First Mercantile Trust Co. Invests $118,000 in HubSpot, Inc. (NYSE:HUBS)

First Mercantile Trust Co. bought a new position in HubSpot, Inc. (NYSE:HUBS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 203 shares of the software maker’s stock, valued at approximately $118,000.

Several other institutional investors have also recently added to or reduced their stakes in HUBS. Paradigm Financial Advisors LLC increased its stake in HubSpot by 1.6% in the 2nd quarter. Paradigm Financial Advisors LLC now owns 3,824 shares of the software maker’s stock worth $2,228,000 after buying an additional 62 shares during the period. Frontier Capital Management Co. LLC increased its stake in HubSpot by 9,290.8% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 77,474 shares of the software maker’s stock worth $45,146,000 after buying an additional 76,649 shares during the period. O Shaughnessy Asset Management LLC increased its stake in HubSpot by 57.3% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 835 shares of the software maker’s stock worth $486,000 after buying an additional 304 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in HubSpot by 14.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,138 shares of the software maker’s stock worth $4,742,000 after buying an additional 1,008 shares during the period. Finally, CLARET ASSET MANAGEMENT Corp purchased a new position in HubSpot in the 2nd quarter worth about $229,000. Hedge funds and other institutional investors own 89.74% of the company’s stock.

Shares of HubSpot stock opened at $703.10 on Friday. The firm’s 50 day moving average price is $639.07 and its 200-day moving average price is $555.43. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.46. HubSpot, Inc. has a 52-week low of $264.06 and a 52-week high of $715.29. The company has a market cap of $33.05 billion, a P/E ratio of -378.01 and a beta of 1.69.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, August 4th. The software maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The company had revenue of $310.80 million during the quarter, compared to analysts’ expectations of $296.01 million. HubSpot had a negative net margin of 7.98% and a negative return on equity of 7.35%. HubSpot’s revenue for the quarter was up 52.7% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. As a group, equities research analysts forecast that HubSpot, Inc. will post -1.5 EPS for the current fiscal year.

In related news, CFO Kathryn Bueker sold 600 shares of HubSpot stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $598.00, for a total value of $358,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yamini Rangan sold 2,106 shares of HubSpot stock in a transaction that occurred on Friday, July 2nd. The shares were sold at an average price of $592.00, for a total transaction of $1,246,752.00. Following the sale, the insider now owns 47,123 shares of the company’s stock, valued at $27,896,816. The disclosure for this sale can be found here. Insiders sold a total of 14,826 shares of company stock valued at $8,366,650 over the last quarter. 6.00% of the stock is owned by company insiders.

Several research firms recently commented on HUBS. KeyCorp raised their price target on shares of HubSpot from $697.00 to $711.00 and gave the stock an “overweight” rating in a research note on Thursday, August 5th. Mizuho raised their target price on shares of HubSpot from $570.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. Morgan Stanley raised their target price on shares of HubSpot from $605.00 to $725.00 and gave the company an “overweight” rating in a research report on Thursday, August 5th. Piper Sandler raised their target price on shares of HubSpot from $615.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, August 5th. Finally, Truist Securities raised their target price on shares of HubSpot from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. Nineteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, HubSpot currently has a consensus rating of “Buy” and a consensus price target of $631.08.

About HubSpot

HubSpot, Inc develops Internet marketing software solutions. The firm operates through the following geographical segments: Americas, Europe and Asia Pacific. The company was founded by Brian Patrick Halligan and Dharmesh Shah on April 4, 2005 and is headquartered in Cambridge, MA.

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Institutional Ownership by Quarter for HubSpot (NYSE:HUBS)

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