Mackenzie Financial Corp Boosts Stock Position in HubSpot, Inc. $HUBS

Mackenzie Financial Corp lifted its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 44.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,842 shares of the software maker’s stock after buying an additional 1,498 shares during the quarter. Mackenzie Financial Corp’s holdings in HubSpot were worth $2,695,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HUBS. QRG Capital Management Inc. raised its position in HubSpot by 5.9% during the second quarter. QRG Capital Management Inc. now owns 434 shares of the software maker’s stock worth $242,000 after acquiring an additional 24 shares during the period. First Horizon Advisors Inc. grew its position in shares of HubSpot by 4.7% in the second quarter. First Horizon Advisors Inc. now owns 597 shares of the software maker’s stock valued at $332,000 after purchasing an additional 27 shares during the period. Insigneo Advisory Services LLC increased its stake in shares of HubSpot by 6.3% during the second quarter. Insigneo Advisory Services LLC now owns 470 shares of the software maker’s stock worth $262,000 after purchasing an additional 28 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of HubSpot by 0.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,101 shares of the software maker’s stock worth $5,066,000 after purchasing an additional 30 shares in the last quarter. Finally, Whittier Trust Co. raised its position in shares of HubSpot by 136.4% during the 2nd quarter. Whittier Trust Co. now owns 52 shares of the software maker’s stock worth $29,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on HubSpot from $675.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Canaccord Genuity Group decreased their target price on HubSpot from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Citigroup boosted their price target on HubSpot from $650.00 to $658.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. The Goldman Sachs Group reduced their price objective on HubSpot from $717.00 to $612.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Finally, Macquarie decreased their price objective on HubSpot from $730.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $617.23.

Insider Activity

In other HubSpot news, CFO Kathryn Bueker sold 615 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $500.00, for a total value of $307,500.00. Following the transaction, the chief financial officer directly owned 38,794 shares in the company, valued at $19,397,000. The trade was a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $368.11, for a total transaction of $3,128,935.00. Following the completion of the sale, the director directly owned 504,966 shares of the company’s stock, valued at approximately $185,883,034.26. This trade represents a 1.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 51,098 shares of company stock valued at $24,062,552 over the last three months. 4.00% of the stock is currently owned by company insiders.

HubSpot Stock Performance

NYSE HUBS opened at $376.71 on Friday. The stock’s fifty day moving average is $427.38 and its two-hundred day moving average is $494.31. The firm has a market capitalization of $19.74 billion, a P/E ratio of -4,708.88, a price-to-earnings-growth ratio of 12.71 and a beta of 1.46. HubSpot, Inc. has a fifty-two week low of $344.41 and a fifty-two week high of $881.13.

HubSpot (NYSE:HUBS) last issued its earnings results on Thursday, November 6th. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.08. HubSpot had a positive return on equity of 1.21% and a negative net margin of 0.12%.The business had revenue of $809.52 million during the quarter, compared to the consensus estimate of $786.80 million. During the same period last year, the company earned $2.18 EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, sell-side analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current year.

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.