Pier 88 Investment Partners LLC Has $1.12 Million Position in HubSpot, Inc. (NYSE:HUBS)

Pier 88 Investment Partners LLC cut its holdings in HubSpot, Inc. (NYSE:HUBS) by 25.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,930 shares of the software maker’s stock after selling 670 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in HubSpot were worth $1,120,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rakuten Securities Inc. bought a new stake in shares of HubSpot in the 4th quarter valued at about $29,000. Venturi Wealth Management LLC increased its stake in HubSpot by 335.7% in the fourth 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 in the last quarter. Larson Financial Group LLC increased its stake in HubSpot by 1,380.0% in the fourth quarter. Larson Financial Group LLC now owns 74 shares of the software maker’s stock valued at $43,000 after purchasing an additional 69 shares in the last quarter. Principal Securities Inc. acquired a new stake in HubSpot in the fourth quarter worth $50,000. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of HubSpot by 29.2% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 93 shares of the software maker’s stock worth $55,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Insider Activity

In other HubSpot news, CEO Yamini Rangan sold 116 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $634.21, for a total transaction of $73,568.36. Following the completion of the sale, the chief executive officer now directly owns 88,861 shares in the company, valued at $56,356,534.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Dawson Alyssa Harvey sold 469 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $620.15, for a total value of $290,850.35. Following the completion of the sale, the insider now owns 11,052 shares of the company’s stock, valued at $6,853,897.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Yamini Rangan sold 116 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $634.21, for a total transaction of $73,568.36. Following the transaction, the chief executive officer now directly owns 88,861 shares in the company, valued at $56,356,534.81. The disclosure for this sale can be found here. Insiders have sold 26,903 shares of company stock valued at $16,836,781 over the last ninety days. 4.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HUBS. 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 report on Thursday, May 9th. BMO Capital Markets reduced their price target on shares of HubSpot from $710.00 to $635.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. JPMorgan Chase & Co. increased their price objective on shares of HubSpot from $530.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. William Blair reaffirmed an “outperform” rating on shares of HubSpot in a research report on Thursday, February 15th. Finally, Stifel Nicolaus 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $640.04.

HubSpot Stock Performance

HubSpot stock traded down $4.70 during mid-day trading on Friday, hitting $590.16. 571,617 shares of the company’s stock traded hands, compared to its average volume of 683,675. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a 50 day simple moving average of $624.86 and a two-hundred day simple moving average of $584.14. HubSpot, Inc. has a fifty-two week low of $407.23 and a fifty-two week high of $693.85. The stock has a market cap of $30.07 billion, a price-to-earnings ratio of -222.70 and a beta of 1.57.

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.