Pier 88 Investment Partners LLC Increases Stock Position in HubSpot, Inc. (NYSE:HUBS)

Pier 88 Investment Partners LLC grew its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 197.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,080 shares of the software maker’s stock after buying an additional 1,380 shares during the period. Pier 88 Investment Partners LLC’s holdings in HubSpot were worth $1,227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HUBS. GAMMA Investing LLC increased its position in HubSpot by 14.3% during the 1st quarter. GAMMA Investing LLC now owns 120 shares of the software maker’s stock valued at $75,000 after buying an additional 15 shares in the last quarter. Lincoln National Corp increased its holdings in shares of HubSpot by 2.6% during the fourth quarter. Lincoln National Corp now owns 666 shares of the software maker’s stock valued at $387,000 after acquiring an additional 17 shares in the last quarter. Addison Capital Co increased its holdings in shares of HubSpot by 0.5% during the fourth quarter. Addison Capital Co now owns 3,822 shares of the software maker’s stock valued at $2,219,000 after acquiring an additional 18 shares in the last quarter. First Affirmative Financial Network raised its position in shares of HubSpot by 3.8% in the 1st quarter. First Affirmative Financial Network now owns 493 shares of the software maker’s stock worth $309,000 after purchasing an additional 18 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position in HubSpot by 17.9% during the 1st quarter. Lindbrook Capital LLC now owns 138 shares of the software maker’s stock valued at $86,000 after purchasing an additional 21 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Yamini Rangan sold 2,877 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total transaction of $1,705,485.60. Following the completion of the sale, the chief executive officer now owns 68,037 shares in the company, valued at $40,332,333.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other HubSpot news, CFO Kathryn Bueker sold 1,135 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total value of $672,828.00. Following the sale, the chief financial officer now owns 44,715 shares in the company, valued at approximately $26,507,052. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Yamini Rangan sold 2,877 shares of the firm’s 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 transaction, the chief executive officer now owns 68,037 shares of the company’s stock, valued at approximately $40,332,333.60. The disclosure for this sale can be found here. Insiders have sold 38,012 shares of company stock worth $21,300,253 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on HUBS shares. BMO Capital Markets decreased their target price on shares of HubSpot from $635.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. UBS Group lowered their price objective on HubSpot from $580.00 to $550.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Canaccord Genuity Group reduced their target price on HubSpot from $700.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Bank of America lowered their price target on HubSpot from $650.00 to $580.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, KeyCorp raised HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price objective on the stock in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, HubSpot currently has a consensus rating of “Moderate Buy” and an average price target of $610.79.

HubSpot Trading Down 1.5 %

Shares of NYSE:HUBS opened at $496.48 on Friday. The stock has a 50 day moving average of $500.50 and a 200 day moving average of $573.90. The company has a market cap of $25.30 billion, a PE ratio of -187.35, a price-to-earnings-growth ratio of 3,148.72 and a beta of 1.63. HubSpot, Inc. has a 12-month low of $407.23 and a 12-month high of $693.85.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. The firm had revenue of $637.20 million during the quarter, compared to analysts’ expectations of $619.28 million. During the same period in the prior year, the company posted ($1.17) earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities research analysts predict that HubSpot, Inc. will post 0.01 earnings per share for the current fiscal year.

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.