HubSpot, Inc. (HUBS) Shares Sold by Pier 88 Investment Partners LLC
Pier 88 Investment Partners LLC lowered its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 51.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,227 shares of the software maker’s stock after selling 4,550 shares during the period. Pier 88 Investment Partners LLC’s holdings in HubSpot were worth $278,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in HUBS. Point72 Asia Hong Kong Ltd boosted its stake in HubSpot by 153.1% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,706 shares of the software maker’s stock valued at $103,000 after buying an additional 1,032 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in HubSpot during the first quarter valued at approximately $151,000. Independent Portfolio Consultants Inc. boosted its stake in HubSpot by 168.8% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,903 shares of the software maker’s stock valued at $191,000 after buying an additional 1,823 shares during the period. Amalgamated Bank acquired a new stake in HubSpot during the first quarter valued at approximately $214,000. Finally, Juncture Wealth Strategies LLC acquired a new stake in HubSpot during the first quarter valued at approximately $241,000. 92.48% of the stock is currently owned by institutional investors.
HubSpot, Inc. (HUBS) traded up 0.56% on Monday, hitting $72.30. The stock had a trading volume of 291,760 shares. The company’s market cap is $2.64 billion. The company has a 50 day moving average price of $69.87 and a 200-day moving average price of $60.62. HubSpot, Inc. has a 52-week low of $44.90 and a 52-week high of $78.50.
HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Tuesday, May 2nd. The software maker reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.11. HubSpot had a negative net margin of 14.78% and a negative return on equity of 35.75%. The company had revenue of $82.25 million for the quarter, compared to the consensus estimate of $79.33 million. On average, equities research analysts predict that HubSpot, Inc. will post ($0.08) earnings per share for the current year.
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Several equities research analysts recently commented on the company. UBS AG reaffirmed a “buy” rating and set a $70.00 price objective on shares of HubSpot in a research report on Tuesday, March 28th. SunTrust Banks, Inc. assumed coverage on HubSpot in a research report on Monday, June 26th. They set a “buy” rating and a $81.00 price objective on the stock. Oppenheimer Holdings, Inc. set a $70.00 price objective on HubSpot and gave the company a “buy” rating in a research report on Tuesday, March 28th. CIBC reaffirmed a “buy” rating and set a $70.00 price objective on shares of HubSpot in a research report on Wednesday, March 29th. Finally, BTIG Research raised HubSpot from a “neutral” rating to a “buy” rating and set a $73.00 price objective on the stock in a research report on Friday, March 31st. Two equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $69.80.
In related news, insider Hunter Madeley sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $67.10, for a total value of $67,100.00. Following the sale, the insider now directly owns 91,535 shares in the company, valued at approximately $6,141,998.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lorrie M. Norrington sold 4,899 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $65.25, for a total value of $319,659.75. Following the completion of the sale, the director now owns 2,164 shares in the company, valued at $141,201. The disclosure for this sale can be found here. Insiders sold a total of 49,446 shares of company stock worth $3,260,644 over the last 90 days. 18.50% of the stock is currently owned by company insiders.
HubSpot, Inc (HubSpot) provides a cloud-based marketing and sales software platform. The Company’s software platform features integrated applications to help businesses attract visitors to their Websites, convert visitors into leads, close leads into customers and delight customers so that they become promoters of those businesses.
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