HubSpot, Inc. (NYSE:HUBS) Sees Significant Drop in Short Interest

HubSpot, Inc. (NYSE:HUBS) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 974,400 shares, a decrease of 11.4% from the November 15th total of 1,100,000 shares. Based on an average daily volume of 486,500 shares, the short-interest ratio is currently 2.0 days.

Insider Buying and Selling

In other news, CEO Yamini Rangan sold 1,507 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total transaction of $792,440.88. Following the sale, the chief executive officer now owns 62,668 shares in the company, valued at $32,953,341.12. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $661.59, for a total transaction of $5,623,515.00. Following the completion of the transaction, the insider now owns 513,698 shares of the company’s stock, valued at approximately $339,857,459.82. The trade was a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,390 shares of company stock valued at $29,126,596 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On HubSpot

A number of large investors have recently made changes to their positions in HUBS. Wealth Enhancement Advisory Services LLC raised its holdings in shares of HubSpot by 14.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,124 shares of the software maker’s stock worth $1,253,000 after buying an additional 265 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in HubSpot by 12.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 1,548 shares of the software maker’s stock worth $913,000 after buying an additional 173 shares during the period. Swedbank AB lifted its holdings in HubSpot by 2.5% during the 2nd quarter. Swedbank AB now owns 25,920 shares of the software maker’s stock valued at $15,287,000 after buying an additional 632 shares in the last quarter. Blue Trust Inc. boosted its position in HubSpot by 21.0% in the 2nd quarter. Blue Trust Inc. now owns 456 shares of the software maker’s stock valued at $286,000 after buying an additional 79 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in HubSpot by 9.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 24,767 shares of the software maker’s stock worth $14,607,000 after acquiring an additional 2,072 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HUBS has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price target on HubSpot from $700.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Oppenheimer boosted their target price on HubSpot from $625.00 to $740.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Bank of America raised their price target on shares of HubSpot from $780.00 to $850.00 and gave the company a “buy” rating in a report on Monday. Mizuho boosted their price objective on shares of HubSpot from $725.00 to $775.00 and gave the company an “outperform” rating in a report on Friday. Finally, Piper Sandler downgraded HubSpot from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $570.00 to $640.00 in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $702.23.

HubSpot Price Performance

Shares of HUBS stock traded down $5.28 during trading hours on Tuesday, hitting $741.63. The stock had a trading volume of 611,979 shares, compared to its average volume of 586,440. The stock has a market capitalization of $38.29 billion, a price-to-earnings ratio of -2,746.78, a PEG ratio of 88.26 and a beta of 1.70. HubSpot has a one year low of $434.84 and a one year high of $762.47. The stock’s 50-day moving average price is $646.48 and its two-hundred day moving average price is $566.02.

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

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.