BlackRock Inc. Has $140.44 Million Stake in HubSpot, Inc. (HUBS)
BlackRock Inc. raised its stake in HubSpot, Inc. (NYSE:HUBS) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,135,974 shares of the software maker’s stock after acquiring an additional 5,091 shares during the quarter. BlackRock Inc. owned approximately 5.77% of HubSpot worth $140,439,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vista Equity Partners Management LLC increased its stake in HubSpot by 25.8% in the first quarter. Vista Equity Partners Management LLC now owns 161,953 shares of the software maker’s stock valued at $9,806,000 after purchasing an additional 33,250 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in HubSpot in the second quarter valued at $877,000. CI Global Investments Inc. acquired a new position in HubSpot in the second quarter valued at $2,959,000. Royce & Associates LP increased its stake in HubSpot by 20.5% in the second quarter. Royce & Associates LP now owns 53,000 shares of the software maker’s stock valued at $3,485,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in HubSpot in the first quarter valued at $259,000. 96.08% of the stock is owned by institutional investors.
Several equities analysts recently commented on the company. Cowen and Company upped their target price on HubSpot from $69.00 to $76.00 and gave the company a “market perform” rating in a research note on Thursday, September 28th. UBS AG reiterated an “outperform” rating and issued a $80.00 target price (up from $78.00) on shares of HubSpot in a research note on Wednesday, August 9th. KeyCorp reiterated a “sector weight” rating on shares of HubSpot in a research note on Friday. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of HubSpot in a research note on Wednesday, August 9th. Finally, Canaccord Genuity upped their target price on HubSpot from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. HubSpot currently has an average rating of “Buy” and an average target price of $79.47.
HubSpot, Inc. (HUBS) opened at 82.40 on Friday. The firm’s market cap is $3.05 billion. The company has a 50 day moving average price of $77.07 and a 200 day moving average price of $70.41. HubSpot, Inc. has a 1-year low of $44.90 and a 1-year high of $86.90.
HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.08. The company had revenue of $89.10 million for the quarter, compared to the consensus estimate of $85.80 million. HubSpot had a negative return on equity of 27.99% and a negative net margin of 13.17%. The firm’s revenue was up 37.1% compared to the same quarter last year. During the same period last year, the business posted ($0.07) earnings per share. On average, equities research analysts forecast that HubSpot, Inc. will post $0.09 earnings per share for the current year.
In related news, insider Hunter Madeley sold 16,000 shares of HubSpot stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $72.77, for a total transaction of $1,164,320.00. Following the sale, the insider now directly owns 84,549 shares of the company’s stock, valued at $6,152,630.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Dharmesh Shah sold 20,000 shares of HubSpot stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $73.60, for a total value of $1,472,000.00. Following the sale, the insider now directly owns 1,716,316 shares in the company, valued at $126,320,857.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,000 shares of company stock worth $4,589,420. 12.10% 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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