Principal Financial Group Inc. reduced its holdings in HubSpot, Inc. (NYSE:HUBS – Get Rating) by 50.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,488 shares of the software maker’s stock after selling 11,524 shares during the quarter. Principal Financial Group Inc.’s holdings in HubSpot were worth $3,322,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in HubSpot by 122.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 433 shares of the software maker’s stock worth $125,000 after buying an additional 238 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in HubSpot by 3.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 20,102 shares of the software maker’s stock worth $5,812,000 after purchasing an additional 590 shares during the period. Royal London Asset Management Ltd. lifted its stake in HubSpot by 4.7% during the fourth quarter. Royal London Asset Management Ltd. now owns 16,085 shares of the software maker’s stock worth $4,656,000 after purchasing an additional 719 shares during the period. LGT Group Foundation lifted its stake in HubSpot by 101.7% during the fourth quarter. LGT Group Foundation now owns 16,132 shares of the software maker’s stock worth $4,664,000 after purchasing an additional 8,135 shares during the period. Finally, HighTower Advisors LLC lifted its stake in HubSpot by 27.9% during the fourth quarter. HighTower Advisors LLC now owns 1,545 shares of the software maker’s stock worth $446,000 after purchasing an additional 337 shares during the period. 90.87% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CFO Kathryn Bueker sold 710 shares of the stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $424.80, for a total transaction of $301,608.00. Following the sale, the chief financial officer now owns 41,124 shares in the company, valued at approximately $17,469,475.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Kathryn Bueker sold 710 shares of the stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $424.80, for a total transaction of $301,608.00. Following the sale, the chief financial officer now owns 41,124 shares in the company, valued at approximately $17,469,475.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $422.65, for a total transaction of $3,592,525.00. Following the sale, the insider now owns 613,350 shares in the company, valued at approximately $259,232,377.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,500 shares of company stock worth $8,611,217. Corporate insiders own 4.90% of the company’s stock.
HubSpot Stock Performance
HubSpot (NYSE:HUBS – Get Rating) last announced its earnings results on Wednesday, May 3rd. The software maker reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. HubSpot had a negative net margin of 7.71% and a negative return on equity of 10.48%. The firm had revenue of $501.62 million for the quarter, compared to analyst estimates of $474.55 million. Equities research analysts predict that HubSpot, Inc. will post -1.84 earnings per share for the current year.
Analyst Ratings Changes
A number of research analysts have commented on HUBS shares. Piper Sandler restated an “overweight” rating and set a $450.00 price target on shares of HubSpot in a research note on Monday, March 6th. Canaccord Genuity Group boosted their price objective on shares of HubSpot from $385.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. StockNews.com initiated coverage on shares of HubSpot in a research report on Thursday, May 18th. They issued a “hold” rating for the company. 92 Resources reaffirmed a “maintains” rating on shares of HubSpot in a report on Thursday, May 4th. Finally, Mizuho lifted their target price on shares of HubSpot from $350.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, February 17th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, HubSpot presently has a consensus rating of “Moderate Buy” and an average price target of $428.04.
About HubSpot
HubSpot, Inc engages in cloud-based customer relationship management. Its platform includes marketing, sales, service, operations and content management system, as well as other tools, integrations and a native payment solutions. It operates through the following geographical segments: Americas, Europe and Asia Pacific.
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