Melqart Asset Management UK Ltd Acquires 4,468 Shares of HubSpot, Inc. (NYSE:HUBS)

Melqart Asset Management UK Ltd increased its holdings in HubSpot, Inc. (NYSE:HUBS) by 15.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,878 shares of the software maker’s stock after buying an additional 4,468 shares during the period. HubSpot accounts for 1.6% of Melqart Asset Management UK Ltd’s investment portfolio, making the stock its 17th biggest position. Melqart Asset Management UK Ltd owned approximately 0.07% of HubSpot worth $18,010,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GDS Wealth Management purchased a new stake in shares of HubSpot in the third quarter worth about $2,149,000. Pallas Capital Advisors LLC purchased a new position in shares of HubSpot during the 3rd quarter valued at $624,000. Headlands Technologies LLC bought a new position in shares of HubSpot in the second quarter worth $3,135,000. Icon Wealth Advisors LLC raised its position in shares of HubSpot by 3,346.2% in the third quarter. Icon Wealth Advisors LLC now owns 21,091 shares of the software maker’s stock worth $11,212,000 after buying an additional 20,479 shares in the last quarter. Finally, Curi RMB Capital LLC boosted its stake in HubSpot by 15.1% during the third quarter. Curi RMB Capital LLC now owns 7,143 shares of the software maker’s stock valued at $3,797,000 after buying an additional 937 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

HubSpot Trading Down 0.6 %

HUBS stock opened at $719.44 on Wednesday. The firm’s 50-day moving average price is $604.80 and its two-hundred day moving average price is $557.27. The stock has a market capitalization of $37.14 billion, a price-to-earnings ratio of -2,664.59, a PEG ratio of 87.96 and a beta of 1.70. HubSpot, Inc. has a 12-month low of $434.84 and a 12-month high of $754.56.

HubSpot (NYSE:HUBS) last released its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.27. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The business had revenue of $669.72 million during the quarter, compared to analyst estimates of $646.97 million. During the same quarter in the prior year, the company posted ($0.04) EPS. HubSpot’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities analysts predict that HubSpot, Inc. will post 0.4 EPS for the current year.

Insider Buying and Selling at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 1,507 shares of HubSpot stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total transaction of $792,440.88. Following the sale, the chief executive officer now directly owns 62,668 shares of the company’s stock, valued at approximately $32,953,341.12. The trade was a 2.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Dharmesh Shah sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $672.62, for a total value of $16,815,500.00. Following the completion of the sale, the chief technology officer now directly owns 1,323,145 shares in the company, valued at approximately $889,973,789.90. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,275 shares of company stock valued at $29,044,510. 4.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group raised their price target on HubSpot from $550.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Truist Financial reiterated a “buy” rating and set a $750.00 target price (up from $600.00) on shares of HubSpot in a research report on Friday, November 8th. Citigroup decreased their price target on shares of HubSpot from $699.00 to $629.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barclays upped their target price on shares of HubSpot from $500.00 to $650.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Piper Sandler downgraded HubSpot from an “overweight” rating to a “neutral” rating and raised their price target for the company from $570.00 to $640.00 in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $672.68.

About HubSpot

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.