Concentric Capital Strategies LP Acquires 11,217 Shares of HubSpot, Inc. (NYSE:HUBS)

Concentric Capital Strategies LP lifted its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 100.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,397 shares of the software maker’s stock after buying an additional 11,217 shares during the period. Concentric Capital Strategies LP’s holdings in HubSpot were worth $11,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its stake in shares of HubSpot by 17.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock valued at $303,689,000 after acquiring an additional 86,688 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in HubSpot by 8.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker’s stock worth $280,186,000 after acquiring an additional 40,138 shares during the last quarter. Marshall Wace LLP boosted its position in shares of HubSpot by 88.7% in the 2nd quarter. Marshall Wace LLP now owns 241,557 shares of the software maker’s stock worth $142,468,000 after purchasing an additional 113,555 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of HubSpot by 49.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 207,842 shares of the software maker’s stock valued at $110,489,000 after purchasing an additional 68,827 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake 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 buying an additional 4,331 shares during the period. 90.39% of the stock is currently owned by institutional investors.

HubSpot Stock Performance

Shares of HubSpot stock opened at $721.05 on Monday. The firm has a fifty day moving average of $597.13 and a two-hundred day moving average of $555.74. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $754.56. The stock has a market capitalization of $37.22 billion, a price-to-earnings ratio of -2,670.46, a PEG ratio of 87.65 and a beta of 1.63.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.27. The business had revenue of $669.72 million during the quarter, compared to the consensus estimate 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 prior year, the company earned ($0.04) EPS. As a group, research analysts forecast that HubSpot, Inc. will post 0.4 EPS for the current fiscal year.

Insider Activity

In other news, CEO Yamini Rangan sold 116 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathryn Bueker sold 1,804 shares of HubSpot stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $550.00, for a total value of $992,200.00. Following the sale, the chief financial officer now owns 41,259 shares of the company’s stock, valued at approximately $22,692,450. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,391 shares of company stock valued at $29,101,488. Corporate insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBS has been the topic of a number of research reports. KeyCorp upgraded HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price objective on the stock in a research note on Thursday, August 8th. Raymond James decreased their price target on HubSpot from $725.00 to $675.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Barclays boosted their price target on shares of HubSpot from $500.00 to $650.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Royal Bank of Canada raised their price target on HubSpot from $700.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price objective on HubSpot from $560.00 to $635.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, HubSpot currently has a consensus rating of “Moderate Buy” and a consensus target price of $672.68.

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.