KLP Kapitalforvaltning AS Invests $17.18 Million in HubSpot, Inc. (NYSE:HUBS)

KLP Kapitalforvaltning AS purchased a new position in shares of HubSpot, Inc. (NYSE:HUBS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,650 shares of the software maker’s stock, valued at approximately $17,175,000.

Several other hedge funds have also made changes to their positions in HUBS. Quest Partners LLC lifted its position in shares of HubSpot by 125.6% during the third quarter. Quest Partners LLC now owns 871 shares of the software maker’s stock worth $463,000 after purchasing an additional 485 shares in the last quarter. Caprock Group LLC raised its holdings in HubSpot by 16.8% in the third quarter. Caprock Group LLC now owns 673 shares of the software maker’s stock valued at $358,000 after acquiring an additional 97 shares in the last quarter. Intech Investment Management LLC raised its holdings in HubSpot by 14.9% in the third quarter. Intech Investment Management LLC now owns 2,788 shares of the software maker’s stock valued at $1,482,000 after acquiring an additional 362 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in HubSpot by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 194,538 shares of the software maker’s stock valued at $103,416,000 after acquiring an additional 4,331 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in HubSpot by 17.4% in the third quarter. Citigroup Inc. now owns 26,285 shares of the software maker’s stock valued at $13,973,000 after acquiring an additional 3,895 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insider Buying and Selling

In other HubSpot news, Director Lorrie M. Norrington sold 572 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $721.60, for a total value of $412,755.20. Following the completion of the sale, the director now owns 1,125 shares of the company’s stock, valued at approximately $811,800. This trade represents a 33.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $810.00, for a total value of $6,885,000.00. Following the completion of the sale, the insider now directly owns 524,751 shares of the company’s stock, valued at approximately $425,048,310. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,425 shares of company stock valued at $15,866,151 over the last three months. 4.50% of the stock is currently owned by company insiders.

HubSpot Price Performance

Shares of NYSE HUBS opened at $604.89 on Monday. The stock has a fifty day moving average price of $715.33 and a 200 day moving average price of $656.27. HubSpot, Inc. has a 1-year low of $434.84 and a 1-year high of $881.13. The company has a market cap of $31.55 billion, a PE ratio of 6,721.75, a P/E/G ratio of 41.44 and a beta of 1.80.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.98). HubSpot had a negative return on equity of 0.07% and a net margin of 0.17%. Analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on HUBS. BMO Capital Markets raised their target price on shares of HubSpot from $690.00 to $885.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Wells Fargo & Company raised their target price on shares of HubSpot from $835.00 to $940.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Raymond James raised their target price on shares of HubSpot from $750.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Oppenheimer raised their target price on shares of HubSpot from $850.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, KeyCorp raised shares of HubSpot from a “sector weight” rating to an “overweight” rating and set a $920.00 target price on the stock in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, HubSpot currently has an average rating of “Moderate Buy” and an average price target of $853.32.

HubSpot 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.