New York State Common Retirement Fund Decreases Position in HubSpot, Inc. (NYSE:HUBS)

New York State Common Retirement Fund reduced its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 14.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,954 shares of the software maker’s stock after selling 14,053 shares during the period. New York State Common Retirement Fund owned 0.17% of HubSpot worth $45,693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norris Perne & French LLP MI grew its holdings in shares of HubSpot by 4.7% in the third quarter. Norris Perne & French LLP MI now owns 35,772 shares of the software maker’s stock valued at $19,016,000 after purchasing an additional 1,621 shares in the last quarter. US Bancorp DE lifted its position in HubSpot by 17.2% in the third quarter. US Bancorp DE now owns 2,421 shares of the software maker’s stock valued at $1,287,000 after acquiring an additional 356 shares during the last quarter. HM Payson & Co. grew its stake in HubSpot by 36.0% during the 3rd quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock worth $36,000 after buying an additional 18 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in HubSpot by 14.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,096 shares of the software maker’s stock worth $1,114,000 after purchasing an additional 268 shares during the last quarter. Finally, Avitas Wealth Management LLC increased its position in HubSpot by 31.2% in the 3rd quarter. Avitas Wealth Management LLC now owns 2,021 shares of the software maker’s stock valued at $1,074,000 after acquiring an additional 481 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Raymond James reduced their price target on HubSpot from $725.00 to $675.00 and set an “outperform” rating for the company in a report 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. Piper Sandler reiterated an “overweight” rating and set a $570.00 target price on shares of HubSpot in a research report on Thursday, September 19th. UBS Group reduced their target price on HubSpot from $580.00 to $550.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $625.00 price objective on shares of HubSpot in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $614.33.

Insider Buying and Selling

In other news, CFO Kathryn Bueker sold 1,136 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total transaction of $597,354.24. Following the completion of the transaction, the chief financial officer now owns 41,259 shares in the company, valued at approximately $21,695,632.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Kathryn Bueker sold 1,136 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total transaction of $597,354.24. Following the completion of the transaction, the chief financial officer now directly owns 41,259 shares in the company, valued at $21,695,632.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Yamini Rangan sold 1,374 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $550.00, for a total value of $755,700.00. Following the completion of the transaction, the chief executive officer now owns 61,294 shares of the company’s stock, valued at $33,711,700. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,937 shares of company stock worth $3,194,673. 4.50% of the stock is owned by company insiders.

HubSpot Price Performance

Shares of NYSE:HUBS opened at $565.23 on Friday. The company has a market cap of $29.02 billion, a price-to-earnings ratio of -1,046.70, a PEG ratio of 7,376.40 and a beta of 1.63. HubSpot, Inc. has a one year low of $408.62 and a one year high of $693.85. The firm has a 50 day simple moving average of $524.47 and a 200 day simple moving average of $547.20.

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

HubSpot Company 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.