Legal & General Group Plc Raises Position in HubSpot, Inc. $HUBS

Legal & General Group Plc lifted its position in shares of HubSpot, Inc. (NYSE:HUBS) by 8.3% during the third quarter, HoldingsChannel reports. The fund owned 370,968 shares of the software maker’s stock after acquiring an additional 28,351 shares during the quarter. Legal & General Group Plc’s holdings in HubSpot were worth $173,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Vestcor Inc raised its holdings in HubSpot by 49.3% during the third quarter. Vestcor Inc now owns 6,057 shares of the software maker’s stock worth $2,833,000 after purchasing an additional 2,000 shares in the last quarter. LGT Group Foundation boosted its holdings in HubSpot by 4.0% in the 3rd quarter. LGT Group Foundation now owns 6,061 shares of the software maker’s stock valued at $2,668,000 after purchasing an additional 235 shares in the last quarter. Russell Investments Group Ltd. increased its position in HubSpot by 19.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 75,634 shares of the software maker’s stock worth $35,649,000 after purchasing an additional 12,153 shares during the period. Altman Advisors Inc. increased its position in HubSpot by 1.4% during the 3rd quarter. Altman Advisors Inc. now owns 3,352 shares of the software maker’s stock worth $1,568,000 after purchasing an additional 45 shares during the period. Finally, Jefferies Financial Group Inc. raised its stake in shares of HubSpot by 148.6% during the 3rd quarter. Jefferies Financial Group Inc. now owns 12,435 shares of the software maker’s stock worth $5,817,000 after buying an additional 7,432 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HUBS has been the subject of several recent analyst reports. Truist Financial reduced their price target on HubSpot from $650.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, February 12th. The Goldman Sachs Group dropped their price objective on HubSpot from $517.00 to $442.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Sanford C. Bernstein reiterated an “outperform” rating on shares of HubSpot in a research report on Thursday, February 12th. Zacks Research raised HubSpot from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Finally, Morgan Stanley restated an “overweight” rating on shares of HubSpot in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $454.20.

Insiders Place Their Bets

In other news, Director Brian Halligan sold 8,500 shares of the company’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $303.38, for a total value of $2,578,730.00. Following the sale, the director directly owned 487,344 shares in the company, valued at $147,850,422.72. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Erika Ashley Fisher sold 841 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $238.01, for a total value of $200,166.41. Following the sale, the insider directly owned 10,119 shares in the company, valued at approximately $2,408,423.19. The trade was a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 26,691 shares of company stock valued at $8,136,702. Insiders own 4.00% of the company’s stock.

HubSpot Price Performance

Shares of HUBS opened at $257.56 on Friday. HubSpot, Inc. has a 1-year low of $207.20 and a 1-year high of $682.57. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 296.05, a price-to-earnings-growth ratio of 3.86 and a beta of 1.40. The firm has a 50 day simple moving average of $287.85 and a 200-day simple moving average of $384.65.

HubSpot (NYSE:HUBS) last posted its earnings results on Wednesday, February 11th. The software maker reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.10. The firm had revenue of $846.75 million for the quarter, compared to analyst estimates of $830.65 million. HubSpot had a return on equity of 3.64% and a net margin of 1.47%.HubSpot’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.32 EPS. On average, equities analysts expect that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

About HubSpot

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.