Principal Financial Group Inc. Cuts Stake in HubSpot, Inc. (NYSE:HUBS)

Principal Financial Group Inc. lessened its stake in HubSpot, Inc. (NYSE:HUBS) by 21.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,736 shares of the software maker’s stock after selling 7,048 shares during the quarter. Principal Financial Group Inc. owned approximately 0.05% of HubSpot worth $13,681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. HM Payson & Co. boosted its stake in HubSpot by 36.0% during the third quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock valued at $36,000 after buying an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its position in shares of HubSpot by 19.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 153 shares of the software maker’s stock valued at $91,000 after acquiring an additional 25 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of HubSpot by 3.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 929 shares of the software maker’s stock valued at $494,000 after acquiring an additional 27 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of HubSpot by 2.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,114 shares of the software maker’s stock valued at $698,000 after purchasing an additional 30 shares in the last quarter. Finally, Quent Capital LLC increased its position in HubSpot by 13.0% in the second quarter. Quent Capital LLC now owns 261 shares of the software maker’s stock worth $154,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Insider Buying and Selling

In related 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 owns 67,203 shares in the company, valued at $33,009,441.57. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kathryn Bueker sold 4,381 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $700.00, for a total transaction of $3,066,700.00. Following the sale, the chief financial officer now directly owns 41,259 shares of the company’s stock, valued at $28,881,300. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,891 shares of company stock valued at $6,662,473 over the last 90 days. Corporate insiders own 4.50% of the company’s stock.

HubSpot Trading Down 2.8 %

Shares of HUBS stock opened at $677.07 on Friday. HubSpot, Inc. has a twelve month low of $434.84 and a twelve month high of $724.61. The stock has a fifty day simple moving average of $554.78 and a two-hundred day simple moving average of $548.56. The stock has a market capitalization of $34.95 billion, a price-to-earnings ratio of -2,507.57, a P/E/G ratio of 85.11 and a beta of 1.63.

HubSpot (NYSE:HUBS) last released its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.27. The company had revenue of $669.72 million during the quarter, compared to analyst estimates of $646.97 million. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) earnings per share. Research analysts predict that HubSpot, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HUBS has been the subject of several research reports. Bank of America dropped their price objective on shares of HubSpot from $650.00 to $580.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Truist Financial reiterated a “buy” rating and issued a $750.00 price target (up previously from $600.00) on shares of HubSpot in a research report on Friday, November 8th. Royal Bank of Canada upped their price objective on HubSpot from $700.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their target price on HubSpot from $625.00 to $750.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, KeyCorp upgraded HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price target on the stock in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $672.68.

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.