Westfield Capital Management Co. LP Decreases Position in HubSpot, Inc. (NYSE:HUBS)

Westfield Capital Management Co. LP reduced its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,760 shares of the software maker’s stock after selling 17,452 shares during the quarter. Westfield Capital Management Co. LP’s holdings in HubSpot were worth $93,434,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in HubSpot during the 2nd quarter worth approximately $35,000. HM Payson & Co. grew its position in HubSpot by 36.0% in the 3rd quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock valued at $36,000 after buying an additional 18 shares during the last quarter. Crewe Advisors LLC increased its stake in HubSpot by 525.0% in the 2nd quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock valued at $44,000 after buying an additional 63 shares during the period. J.Safra Asset Management Corp increased its stake in HubSpot by 690.9% in the 2nd quarter. J.Safra Asset Management Corp now owns 87 shares of the software maker’s stock valued at $51,000 after buying an additional 76 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in HubSpot by 41.6% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 109 shares of the software maker’s stock worth $64,000 after buying an additional 32 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

HubSpot Stock Up 3.1 %

NYSE:HUBS opened at $742.61 on Friday. The company has a market cap of $38.33 billion, a PE ratio of -2,750.31, a P/E/G ratio of 87.52 and a beta of 1.63. The business’s 50 day moving average is $575.54 and its two-hundred day moving average is $551.49. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $745.49.

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

Insider Activity

In related news, CEO Yamini Rangan sold 116 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the sale, the chief executive officer now owns 67,203 shares of the company’s stock, valued at approximately $33,009,441.57. This trade represents a 0.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Dharmesh Shah sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $672.62, for a total value of $16,815,500.00. Following the transaction, the chief technology officer now owns 1,323,145 shares of the company’s stock, valued at approximately $889,973,789.90. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,391 shares of company stock valued at $29,101,488. Company insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

HUBS has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of HubSpot from $625.00 to $750.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $730.00 target price on shares of HubSpot in a research note on Thursday, November 7th. Citigroup decreased their price target on HubSpot from $699.00 to $629.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Evercore ISI increased their price objective on HubSpot from $610.00 to $700.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Piper Sandler lowered HubSpot from an “overweight” rating to a “neutral” rating and upped their target price for the company from $570.00 to $640.00 in a report 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. According to data from MarketBeat, HubSpot presently has a consensus rating of “Moderate Buy” and an average price target of $672.68.

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.