Pier 88 Investment Partners LLC Sells 1,350 Shares of HubSpot, Inc. (NYSE:HUBS)

Pier 88 Investment Partners LLC decreased its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 64.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 730 shares of the software maker’s stock after selling 1,350 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in HubSpot were worth $388,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in HUBS. Vanguard Group Inc. raised its holdings in HubSpot by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,829,488 shares of the software maker’s stock valued at $3,025,964,000 after acquiring an additional 39,098 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in HubSpot by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,933,629 shares of the software maker’s stock worth $1,211,535,000 after buying an additional 176,336 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in HubSpot by 0.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 484,586 shares of the software maker’s stock valued at $285,804,000 after buying an additional 3,775 shares during the period. Capital Research Global Investors lifted its holdings in shares of HubSpot by 0.9% during the 1st quarter. Capital Research Global Investors now owns 452,210 shares of the software maker’s stock worth $283,337,000 after acquiring an additional 4,242 shares during the period. Finally, Marshall Wace LLP increased its stake in HubSpot by 88.7% in the second quarter. Marshall Wace LLP now owns 241,557 shares of the software maker’s stock valued at $142,468,000 after acquiring an additional 113,555 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on HUBS shares. Truist Financial reissued a “buy” rating and set a $750.00 price objective (up from $600.00) on shares of HubSpot in a report on Friday, November 8th. Bank of America cut their target price on shares of HubSpot from $650.00 to $580.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group lifted their price objective on HubSpot from $600.00 to $710.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their target price on HubSpot from $626.00 to $690.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Piper Sandler lowered shares of HubSpot from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $570.00 to $640.00 in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, HubSpot presently has an average rating of “Moderate Buy” and an average target price of $666.26.

HubSpot Trading Down 0.2 %

HubSpot stock opened at $700.00 on Thursday. The stock has a 50-day simple moving average of $543.21 and a 200 day simple moving average of $546.16. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $724.61.

HubSpot (NYSE:HUBS) last posted its earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.27. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The business had revenue of $669.72 million for the quarter, compared to analyst estimates of $646.97 million. During the same period in the previous year, the firm earned ($0.04) EPS. The firm’s revenue was up 20.1% compared to the same quarter last year. On average, sell-side analysts anticipate that HubSpot, Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other HubSpot news, CEO Yamini Rangan sold 116 shares of the firm’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 transaction of $56,978.04. Following the completion of the sale, the chief executive officer now directly owns 67,203 shares in the company, valued at $33,009,441.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Kathryn Bueker sold 1,136 shares of HubSpot stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total transaction of $597,354.24. Following the completion of the sale, the chief financial officer now owns 41,259 shares of the company’s stock, valued at approximately $21,695,632.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction dated 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 sale, the chief executive officer now owns 67,203 shares of the company’s stock, valued at $33,009,441.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,891 shares of company stock valued at $6,662,473. Company insiders own 4.50% of the company’s stock.

About HubSpot

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.