Truist Financial Corp Sells 4,799 Shares of HubSpot, Inc. (NYSE:HUBS)

Truist Financial Corp reduced its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 19.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,197 shares of the software maker’s stock after selling 4,799 shares during the period. Truist Financial Corp’s holdings in HubSpot were worth $11,912,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Riverview Trust Co bought a new position in shares of HubSpot during the 1st quarter valued at $27,000. Geneos Wealth Management Inc. grew its stake in shares of HubSpot by 1,125.0% during the first quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker’s stock valued at $31,000 after buying an additional 45 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of HubSpot in the second quarter worth about $35,000. Crewe Advisors LLC lifted its stake in shares of HubSpot by 525.0% in the 2nd quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock valued at $44,000 after acquiring an additional 63 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in HubSpot during the 1st quarter valued at about $50,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HUBS has been the topic of a number of analyst reports. Evercore ISI decreased their price target on HubSpot from $650.00 to $550.00 and set an “in-line” rating on the stock in a research note on Thursday, August 8th. Citigroup lowered their price target on shares of HubSpot from $699.00 to $629.00 and set a “buy” rating for the company in a report on Friday, August 9th. BMO Capital Markets reissued an “outperform” rating and issued a $570.00 price target on shares of HubSpot in a report on Thursday, September 19th. Truist Financial restated a “buy” rating and issued a $600.00 price objective (down previously from $700.00) on shares of HubSpot in a research report on Thursday, August 8th. Finally, UBS Group dropped their target price on shares of HubSpot from $580.00 to $550.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $610.79.

Insider Activity at HubSpot

In other HubSpot news, insider Brian Halligan sold 8,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $472.27, for a total transaction of $4,014,295.00. Following the sale, the insider now directly owns 518,152 shares in the company, valued at approximately $244,707,645.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the transaction, the chief executive officer now directly owns 67,203 shares of the company’s stock, valued at $33,009,441.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $472.27, for a total transaction of $4,014,295.00. Following the completion of the sale, the insider now owns 518,152 shares in the company, valued at $244,707,645.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,643 shares of company stock valued at $20,311,734 over the last 90 days. Corporate insiders own 4.50% of the company’s stock.

HubSpot Trading Up 3.4 %

Shares of NYSE:HUBS opened at $535.20 on Friday. HubSpot, Inc. has a 12-month low of $407.23 and a 12-month high of $693.85. The stock has a market capitalization of $27.27 billion, a price-to-earnings ratio of -201.96, a PEG ratio of 7,010.23 and a beta of 1.64. The stock has a fifty day simple moving average of $498.80 and a two-hundred day simple moving average of $560.66.

HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The company had revenue of $637.20 million for the quarter, compared to analysts’ expectations of $619.28 million. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. HubSpot’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.17) EPS.

HubSpot Profile

HubSpot, Inc, together with its subsidiaries, provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes Marketing Hub, a toolset for marketing automation and email, social media, SEO, and reporting and analytics; Sales Hub offers email templates and tracking, conversations and live chat, meeting and call scheduling, lead and website visit alerts, lead scoring, sales automation, pipeline management, quoting, forecasting, and reporting; Service Hub, a service software designed to help businesses manage, respond, and connect with customers; and Content Management Systems Hub enables businesses to create new and edit existing web content.