New York State Common Retirement Fund Cuts Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

New York State Common Retirement Fund decreased its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 8.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 88,645 shares of the software maker’s stock after selling 8,421 shares during the period. New York State Common Retirement Fund owned 0.18% of HubSpot worth $51,462,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new position in HubSpot during the 4th quarter valued at about $29,000. Venturi Wealth Management LLC increased its position in HubSpot by 335.7% during the 4th quarter. Venturi Wealth Management LLC now owns 61 shares of the software maker’s stock valued at $35,000 after purchasing an additional 47 shares during the period. Alta Advisers Ltd purchased a new position in HubSpot during the 3rd quarter valued at about $49,000. Hazlett Burt & Watson Inc. grew its position in shares of HubSpot by 29.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 93 shares of the software maker’s stock worth $55,000 after buying an additional 21 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of HubSpot by 50.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 116 shares of the software maker’s stock worth $57,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

HubSpot Price Performance

Shares of NYSE HUBS opened at $651.77 on Wednesday. The firm has a 50-day simple moving average of $626.40 and a 200-day simple moving average of $556.45. The stock has a market capitalization of $33.03 billion, a price-to-earnings ratio of -183.60 and a beta of 1.58. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.35. HubSpot, Inc. has a 52 week low of $399.48 and a 52 week high of $693.85.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, February 14th. The software maker reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.22. HubSpot had a negative net margin of 8.12% and a negative return on equity of 6.38%. The business had revenue of $581.91 million during the quarter, compared to analysts’ expectations of $557.48 million. On average, equities analysts predict that HubSpot, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other HubSpot news, CEO Yamini Rangan sold 8,817 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $620.00, for a total transaction of $5,466,540.00. Following the completion of the transaction, the chief executive officer now owns 88,977 shares of the company’s stock, valued at $55,165,740. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Dawson Alyssa Harvey sold 969 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $610.00, for a total value of $591,090.00. Following the completion of the transaction, the insider now owns 7,225 shares of the company’s stock, valued at $4,407,250. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Yamini Rangan sold 8,817 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $620.00, for a total transaction of $5,466,540.00. Following the completion of the transaction, the chief executive officer now directly owns 88,977 shares of the company’s stock, valued at approximately $55,165,740. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,362 shares of company stock worth $14,012,491. Insiders own 4.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on HUBS. Truist Financial boosted their price objective on shares of HubSpot from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Barclays boosted their price objective on shares of HubSpot from $475.00 to $600.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Wells Fargo & Company boosted their price objective on shares of HubSpot from $700.00 to $725.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Wolfe Research boosted their price objective on shares of HubSpot from $660.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Finally, Scotiabank boosted their price objective on shares of HubSpot from $650.00 to $700.00 and gave the stock a “sector outperform” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, HubSpot has a consensus rating of “Moderate Buy” and an average price target of $642.36.

HubSpot Company Profile

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.