243,434 Shares in HubSpot, Inc. $HUBS Purchased by Atreides Management LP

Atreides Management LP purchased a new stake in shares of HubSpot, Inc. (NYSE:HUBS) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 243,434 shares of the software maker’s stock, valued at approximately $113,878,000. HubSpot accounts for about 2.2% of Atreides Management LP’s portfolio, making the stock its 9th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goodman Advisory Group LLC purchased a new position in shares of HubSpot during the second quarter valued at approximately $27,000. Rakuten Securities Inc. raised its holdings in shares of HubSpot by 783.3% in the second quarter. Rakuten Securities Inc. now owns 53 shares of the software maker’s stock worth $30,000 after buying an additional 47 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of HubSpot in the second quarter worth approximately $34,000. Exane Asset Management bought a new stake in shares of HubSpot during the 3rd quarter worth approximately $30,000. Finally, Westside Investment Management Inc. lifted its stake in shares of HubSpot by 80.5% during the 3rd quarter. Westside Investment Management Inc. now owns 74 shares of the software maker’s stock worth $33,000 after acquiring an additional 33 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

HubSpot Price Performance

HUBS stock opened at $264.14 on Friday. HubSpot, Inc. has a 1-year low of $207.20 and a 1-year high of $682.57. The business has a 50-day moving average price of $285.47 and a 200 day moving average price of $382.72. The company has a market capitalization of $13.93 billion, a P/E ratio of 303.61, a PEG ratio of 3.94 and a beta of 1.40.

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

Analyst Ratings Changes

Several equities analysts have commented on the company. BMO Capital Markets cut their price objective on HubSpot from $385.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Citigroup upped their price target on shares of HubSpot from $600.00 to $640.00 and gave the stock a “buy” rating in a report on Friday, February 13th. BTIG Research reduced their price target on shares of HubSpot from $500.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Argus decreased their price objective on shares of HubSpot from $650.00 to $525.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, Zacks Research raised shares of HubSpot from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, HubSpot currently has a consensus rating of “Moderate Buy” and an average price target of $454.20.

Insider Buying and Selling

In other HubSpot 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 transaction of $2,578,730.00. Following the completion of the sale, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 $2,408,423.19. This trade represents a 7.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 26,691 shares of company stock worth $8,136,702. Insiders own 4.00% of the company’s stock.

HubSpot Profile

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.