Jennison Associates LLC Has $46.09 Million Holdings in HubSpot, Inc. (NYSE:HUBS)

Jennison Associates LLC trimmed its position in HubSpot, Inc. (NYSE:HUBS) by 84.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 86,707 shares of the software maker’s stock after selling 480,732 shares during the period. Jennison Associates LLC’s holdings in HubSpot were worth $46,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in HUBS. International Assets Investment Management LLC purchased a new stake in shares of HubSpot in the 2nd quarter valued at approximately $35,000. HM Payson & Co. lifted its holdings in shares of HubSpot by 36.0% in the third quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock valued at $36,000 after purchasing an additional 18 shares in the last quarter. Crewe Advisors LLC boosted its position in shares of HubSpot by 525.0% in the second quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock worth $44,000 after buying an additional 63 shares during the period. J.Safra Asset Management Corp boosted its position in shares of HubSpot by 690.9% in the second quarter. J.Safra Asset Management Corp now owns 87 shares of the software maker’s stock worth $51,000 after buying an additional 76 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of HubSpot by 41.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 109 shares of the software maker’s stock valued at $64,000 after buying an additional 32 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HUBS has been the subject of several research analyst reports. Barclays increased their price objective on HubSpot from $500.00 to $650.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. BMO Capital Markets increased their price target on shares of HubSpot from $570.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Oppenheimer boosted their price objective on shares of HubSpot from $625.00 to $740.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Evercore ISI upped their price objective on shares of HubSpot from $610.00 to $700.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of HubSpot from $560.00 to $635.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, HubSpot presently has a consensus rating of “Moderate Buy” and an average target price of $672.68.

HubSpot Trading Up 3.4 %

NYSE HUBS opened at $718.24 on Friday. HubSpot, Inc. has a 1 year low of $434.84 and a 1 year high of $728.90. The company has a fifty day simple moving average of $570.51 and a 200 day simple moving average of $551.07. The company has a market cap of $37.08 billion, a P/E ratio of -2,660.15, a P/E/G ratio of 82.97 and a beta of 1.63.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.27. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The company had revenue of $669.72 million for the quarter, compared to the consensus estimate of $646.97 million. During the same period last year, the business posted ($0.04) earnings per share. The firm’s revenue was up 20.1% compared to the same quarter last year. Equities research analysts forecast that HubSpot, Inc. will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kathryn Bueker sold 1,136 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total value of $597,354.24. Following the completion of the sale, the chief financial officer now owns 41,259 shares in the company, valued at approximately $21,695,632.56. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total value of $56,978.04. Following the transaction, the chief executive officer now owns 67,203 shares in the company, valued at $33,009,441.57. This represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,391 shares of company stock valued at $29,101,488 in the last three months. Company insiders own 4.50% of the company’s stock.

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.