Jennison Associates LLC Decreases Stake in HubSpot, Inc. (NYSE:HUBS)

Jennison Associates LLC lessened its stake in HubSpot, Inc. (NYSE:HUBS) by 84.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,707 shares of the software maker’s stock after selling 480,732 shares during the quarter. Jennison Associates LLC owned 0.17% of HubSpot worth $46,094,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in HubSpot during the second quarter worth about $35,000. HM Payson & Co. raised its position in shares of HubSpot by 36.0% during the 3rd quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock worth $36,000 after purchasing an additional 18 shares during the last quarter. Crewe Advisors LLC lifted 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 in the last quarter. J.Safra Asset Management Corp grew its holdings in HubSpot by 690.9% during 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 last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in HubSpot by 41.6% during the second 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 in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analysts Set New Price Targets

HUBS has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on HubSpot from $560.00 to $635.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Bank of America lowered their price target on shares of HubSpot from $650.00 to $580.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Evercore ISI upped their price objective on shares of HubSpot from $610.00 to $700.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Barclays raised their target price on shares of HubSpot from $500.00 to $650.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, BMO Capital Markets boosted their price target on HubSpot from $570.00 to $690.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $672.68.

Insider Buying and Selling at HubSpot

In other news, insider Dawson Alyssa Harvey sold 573 shares of HubSpot stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $700.00, for a total value of $401,100.00. Following the completion of the transaction, the insider now owns 7,603 shares in the company, valued at approximately $5,322,100. This trade represents a 7.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Yamini Rangan sold 116 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total value of $56,978.04. Following the sale, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. This represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,391 shares of company stock worth $29,101,488 in the last 90 days. 4.50% of the stock is owned by corporate insiders.

HubSpot Trading Up 3.4 %

Shares of NYSE HUBS opened at $718.24 on Friday. The stock has a fifty day moving average price of $570.51 and a 200 day moving average price of $551.07. The company has a market cap of $37.08 billion, a P/E ratio of -2,660.15, a P/E/G ratio of 82.97 and a beta of 1.63. HubSpot, Inc. has a 12-month low of $434.84 and a 12-month high of $728.90.

HubSpot (NYSE:HUBS) last released its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 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 analyst estimates of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. HubSpot’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) EPS. On average, sell-side analysts forecast that HubSpot, Inc. will post 0.4 EPS 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.