Janney Montgomery Scott LLC Increases Stock Position in HubSpot, Inc. (NYSE:HUBS)

Posted by Defense World Staff on Jul 23rd, 2023

Janney Montgomery Scott LLC raised its position in shares of HubSpot, Inc. (NYSE:HUBS – Free Report) by 104.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,477 shares of the software maker’s stock after buying an additional 7,393 shares during the period. Janney Montgomery Scott LLC’s holdings in HubSpot were worth $6,207,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HUBS. Acadian Asset Management LLC boosted its position in HubSpot by 49.2% during the 1st quarter. Acadian Asset Management LLC now owns 704 shares of the software maker’s stock valued at $333,000 after buying an additional 232 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of HubSpot in the 1st quarter worth about $1,385,000. Raymond James Trust N.A. lifted its position in shares of HubSpot by 12.3% in the 1st quarter. Raymond James Trust N.A. now owns 776 shares of the software maker’s stock worth $368,000 after purchasing an additional 85 shares during the period. Cibc World Market Inc. purchased a new stake in shares of HubSpot in the 1st quarter worth about $206,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of HubSpot by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 64,334 shares of the software maker’s stock worth $30,562,000 after purchasing an additional 253 shares during the period. Hedge funds and other institutional investors own 89.32% of the company’s stock.

HubSpot Price Performance

Shares of NYSE:HUBS opened at $544.31 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.25 and a quick ratio of 2.25. HubSpot, Inc. has a 1-year low of $245.03 and a 1-year high of $571.59. The company has a market capitalization of $27.02 billion, a P/E ratio of -185.77 and a beta of 1.57. The firm’s 50 day simple moving average is $517.09 and its two-hundred day simple moving average is $431.01.

HubSpot (NYSE:HUBS – Get Free Report) last issued its quarterly earnings results on Wednesday, May 3rd. The software maker reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. The business had revenue of $501.62 million for the quarter, compared to the consensus estimate of $474.55 million. HubSpot had a negative net margin of 7.71% and a negative return on equity of 10.48%. Research analysts expect that HubSpot, Inc. will post -1.83 EPS for the current fiscal year.

Insider Activity

In other news, CEO Yamini Rangan sold 10,846 shares of HubSpot stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $516.83, for a total transaction of $5,605,538.18. Following the sale, the chief executive officer now owns 63,801 shares in the company, valued at $32,974,270.83. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Yamini Rangan sold 10,846 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $516.83, for a total value of $5,605,538.18. Following the sale, the chief executive officer now owns 63,801 shares in the company, valued at $32,974,270.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $513.78, for a total transaction of $4,367,130.00. Following the completion of the sale, the insider now owns 596,350 shares in the company, valued at approximately $306,392,703. The disclosure for this sale can be found here. Insiders have sold a total of 34,854 shares of company stock worth $18,283,263 over the last quarter. Insiders own 4.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. 888 reaffirmed a “maintains” rating on shares of HubSpot in a research report on Thursday, May 4th. StockNews.com assumed coverage on shares of HubSpot in a research note on Thursday, May 18th. They issued a “hold” rating for the company. TheStreet upgraded shares of HubSpot from a “d+” rating to a “c-” rating in a research note on Friday, May 5th. KeyCorp increased their price target on shares of HubSpot from $450.00 to $485.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. Finally, UBS Group increased their price target on shares of HubSpot from $420.00 to $460.00 in a research note on Thursday, May 4th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, HubSpot has an average rating of “Moderate Buy” and a consensus price target of $432.59.

HubSpot Profile

(Free Report)

HubSpot, Inc 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, sales, service, and content management systems, as well as integrated applications, such as search engine optimization, blogging, website content management, messaging, chatbots, social media, marketing automation, email, predictive lead scoring, sales productivity, knowledge base, commerce, conversation routing, video hosting, ticketing and helpdesk tools, customer NPS surveys, analytics, and reporting.