KLP Kapitalforvaltning AS Invests $17.18 Million in HubSpot, Inc. (NYSE:HUBS)

KLP Kapitalforvaltning AS purchased a new position in shares of HubSpot, Inc. (NYSE:HUBS) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 24,650 shares of the software maker’s stock, valued at approximately $17,175,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advantage Alpha Capital Partners LP increased its position in HubSpot by 113.4% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 18,666 shares of the software maker’s stock worth $9,923,000 after purchasing an additional 9,919 shares in the last quarter. Melqart Asset Management UK Ltd increased its position in HubSpot by 15.2% during the 3rd quarter. Melqart Asset Management UK Ltd now owns 33,878 shares of the software maker’s stock worth $18,010,000 after purchasing an additional 4,468 shares in the last quarter. Paloma Partners Management Co purchased a new stake in HubSpot during the 3rd quarter worth about $3,721,000. Bamco Inc. NY increased its position in HubSpot by 19.6% during the 3rd quarter. Bamco Inc. NY now owns 37,926 shares of the software maker’s stock worth $20,161,000 after purchasing an additional 6,215 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in HubSpot by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 194,538 shares of the software maker’s stock worth $103,416,000 after purchasing an additional 4,331 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HUBS shares. The Goldman Sachs Group lifted their price objective on HubSpot from $783.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Needham & Company LLC lifted their price target on HubSpot from $730.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, February 13th. TD Cowen cut HubSpot from a “buy” rating to a “hold” rating and lifted their price target for the company from $680.00 to $725.00 in a report on Friday, January 17th. Citigroup lifted their price target on HubSpot from $750.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, William Blair restated an “outperform” rating on shares of HubSpot in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $853.32.

HubSpot Stock Performance

HubSpot stock opened at $604.89 on Monday. The stock’s 50 day moving average price is $715.33 and its 200 day moving average price is $656.27. The firm has a market capitalization of $31.55 billion, a PE ratio of 6,721.75, a price-to-earnings-growth ratio of 41.44 and a beta of 1.80. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13.

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

Insider Buying and Selling at HubSpot

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

HubSpot Company 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.