Assetmark Inc. Acquires 635 Shares of HubSpot, Inc. (NYSE:HUBS)

Assetmark Inc. raised its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 7.8% in the 4th quarter, Holdings Channel reports. The firm owned 8,783 shares of the software maker’s stock after purchasing an additional 635 shares during the quarter. Assetmark Inc.’s holdings in HubSpot were worth $6,120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HUBS. Wellington Management Group LLP raised its holdings in shares of HubSpot by 52.2% in the third quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock valued at $745,410,000 after acquiring an additional 480,796 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of HubSpot in the fourth quarter valued at about $79,135,000. Massachusetts Financial Services Co. MA raised its holdings in shares of HubSpot by 17.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock valued at $303,689,000 after acquiring an additional 86,688 shares in the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of HubSpot by 49.5% in the third quarter. TimesSquare Capital Management LLC now owns 207,842 shares of the software maker’s stock valued at $110,489,000 after acquiring an additional 68,827 shares in the last quarter. Finally, State of Michigan Retirement System raised its holdings in shares of HubSpot by 87.7% in the fourth quarter. State of Michigan Retirement System now owns 106,400 shares of the software maker’s stock valued at $74,136,000 after acquiring an additional 49,700 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Insider Activity at HubSpot

In related news, CTO Dharmesh Shah sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $739.89, for a total value of $18,497,250.00. Following the sale, the chief technology officer now owns 1,272,077 shares in the company, valued at $941,197,051.53. This represents a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $810.00, for a total value of $6,885,000.00. Following the completion of the sale, the insider now owns 524,751 shares in the company, valued at approximately $425,048,310. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,997 shares of company stock worth $35,796,526 over the last quarter. Insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

HUBS has been the subject of several recent research reports. Bank of America lifted their price objective on HubSpot from $780.00 to $850.00 and gave the company a “buy” rating in a report on Monday, December 16th. The Goldman Sachs Group lifted their price objective on HubSpot from $783.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Redburn Atlantic initiated coverage on HubSpot in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Stifel Nicolaus lifted their price objective on HubSpot from $880.00 to $925.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, KeyCorp upgraded HubSpot from a “sector weight” rating to an “overweight” rating and set a $920.00 target price on the stock in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $863.96.

HubSpot Stock Performance

Shares of HUBS stock opened at $640.87 on Friday. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $881.13. The firm has a market capitalization of $33.42 billion, a price-to-earnings ratio of 7,121.52, a PEG ratio of 41.44 and a beta of 1.72. The stock’s 50-day simple moving average is $735.56 and its 200-day simple moving average is $646.83.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.98). HubSpot had a negative return on equity of 0.07% and a net margin of 0.17%. As a group, equities analysts forecast that HubSpot, Inc. will post 1.01 earnings per share for the current year.

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.