TimesSquare Capital Management LLC Has $88.42 Million Stock Position in HubSpot, Inc. (NYSE:HUBS)

TimesSquare Capital Management LLC cut its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,115 shares of the software maker’s stock after selling 9,290 shares during the quarter. HubSpot comprises 1.3% of TimesSquare Capital Management LLC’s portfolio, making the stock its 18th biggest holding. TimesSquare Capital Management LLC’s holdings in HubSpot were worth $88,417,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in HubSpot by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 4,790,390 shares of the software maker’s stock valued at $2,781,013,000 after acquiring an additional 119,999 shares during the period. Hsbc Holdings PLC raised its stake in HubSpot by 10.1% in the 4th quarter. Hsbc Holdings PLC now owns 22,402 shares of the software maker’s stock valued at $13,022,000 after acquiring an additional 2,057 shares during the period. Stifel Financial Corp raised its stake in HubSpot by 15.1% in the 4th quarter. Stifel Financial Corp now owns 33,248 shares of the software maker’s stock valued at $19,302,000 after acquiring an additional 4,371 shares during the period. Strs Ohio raised its stake in HubSpot by 1,203.0% in the 4th quarter. Strs Ohio now owns 20,001 shares of the software maker’s stock valued at $11,611,000 after acquiring an additional 18,466 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in HubSpot by 19.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 22,546 shares of the software maker’s stock valued at $13,089,000 after acquiring an additional 3,671 shares during the period. Institutional investors own 90.39% of the company’s stock.

Insider Activity at HubSpot

In other HubSpot news, CTO Dharmesh Shah sold 25,000 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $586.85, for a total value of $14,671,250.00. Following the completion of the transaction, the chief technology officer now directly owns 1,348,929 shares in the company, valued at $791,618,983.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other HubSpot news, CTO Dharmesh Shah sold 25,000 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $586.85, for a total value of $14,671,250.00. Following the completion of the transaction, the chief technology officer now directly owns 1,348,929 shares in the company, valued at $791,618,983.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Yamini Rangan sold 2,877 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total value of $1,705,485.60. Following the completion of the transaction, the chief executive officer now owns 68,037 shares of the company’s stock, valued at $40,332,333.60. The disclosure for this sale can be found here. Insiders have sold 46,491 shares of company stock valued at $28,092,844 over the last ninety days. 4.50% of the stock is owned by corporate insiders.

HubSpot Price Performance

NYSE:HUBS traded down $13.64 during trading hours on Friday, hitting $476.13. The company’s stock had a trading volume of 1,885,552 shares, compared to its average volume of 851,060. The stock has a fifty day simple moving average of $587.56 and a 200-day simple moving average of $602.23. The company has a market capitalization of $24.26 billion, a P/E ratio of -179.67 and a beta of 1.60. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.07 and a quick ratio of 2.07. HubSpot, Inc. has a twelve month low of $407.23 and a twelve month high of $693.85.

HubSpot (NYSE:HUBS) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.27. The business had revenue of $617.41 million for the quarter, compared to analyst estimates of $597.12 million. HubSpot had a negative return on equity of 4.94% and a negative net margin of 5.78%. On average, analysts anticipate that HubSpot, Inc. will post -0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HUBS shares. Canaccord Genuity Group dropped their price target on HubSpot from $750.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. UBS Group dropped their price target on HubSpot from $640.00 to $580.00 and set a “neutral” rating on the stock in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $730.00 price objective on shares of HubSpot in a report on Thursday, May 9th. Piper Sandler decreased their price objective on HubSpot from $655.00 to $570.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Mizuho decreased their price objective on HubSpot from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, HubSpot currently has an average rating of “Moderate Buy” and an average price target of $633.69.

About HubSpot

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.