Maryland State Retirement & Pension System Lowers Position in HubSpot, Inc. (NYSE:HUBS)

Maryland State Retirement & Pension System cut its holdings in HubSpot, Inc. (NYSE:HUBS) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,609 shares of the software maker’s stock after selling 168 shares during the quarter. Maryland State Retirement & Pension System’s holdings in HubSpot were worth $1,818,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its holdings in HubSpot by 168.8% in the fourth quarter. Larson Financial Group LLC now owns 43 shares of the software maker’s stock worth $30,000 after purchasing an additional 27 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in HubSpot by 73.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 45 shares of the software maker’s stock worth $31,000 after purchasing an additional 19 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in HubSpot in the third quarter worth about $25,000. Bank of Jackson Hole Trust bought a new position in HubSpot in the fourth quarter worth about $35,000. Finally, Friedenthal Financial bought a new position in HubSpot in the fourth quarter worth about $50,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Brian Halligan sold 8,500 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $607.48, for a total value of $5,163,580.00. Following the completion of the transaction, the insider now directly owns 527,233 shares of the company’s stock, valued at approximately $320,283,502.84. This represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Yamini Rangan sold 3,057 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $701.59, for a total value of $2,144,760.63. Following the completion of the transaction, the chief executive officer now directly owns 54,079 shares of the company’s stock, valued at approximately $37,941,285.61. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,425 shares of company stock worth $15,866,151 in the last quarter. Corporate insiders own 4.50% of the company’s stock.

HubSpot Trading Up 1.1 %

HubSpot stock opened at $604.89 on Friday. HubSpot, Inc. has a 12 month low of $434.84 and a 12 month high of $881.13. The stock’s 50 day simple moving average is $715.33 and its two-hundred day simple moving average is $654.03. The firm has a market cap of $31.55 billion, a PE ratio of 6,721.75, a P/E/G ratio of 41.44 and a beta of 1.80.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group upgraded shares of HubSpot from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 19th. TD Cowen downgraded shares of HubSpot from a “buy” rating to a “hold” rating and upped their price objective for the company from $680.00 to $725.00 in a report on Friday, January 17th. Sanford C. Bernstein started coverage on shares of HubSpot in a report on Thursday. They set a “market perform” rating and a $693.00 price objective on the stock. Mizuho upped their price objective on shares of HubSpot from $725.00 to $775.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Redburn Atlantic started coverage on shares of HubSpot in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, HubSpot has an average rating of “Moderate Buy” and a consensus target price of $853.32.

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.