Norges Bank Takes $420.35 Million Position in HubSpot, Inc. (NYSE:HUBS)

Norges Bank acquired a new position in HubSpot, Inc. (NYSE:HUBS) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 603,277 shares of the software maker’s stock, valued at approximately $420,345,000. Norges Bank owned 1.17% of HubSpot at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Loomis Sayles & Co. L P purchased a new stake in shares of HubSpot in the 4th quarter worth approximately $82,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in HubSpot by 7.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 34,401 shares of the software maker’s stock worth $24,179,000 after buying an additional 2,305 shares in the last quarter. Korea Investment CORP lifted its holdings in HubSpot by 6.6% during the fourth quarter. Korea Investment CORP now owns 49,011 shares of the software maker’s stock worth $34,149,000 after buying an additional 3,020 shares during the period. Banco BTG Pactual S.A. boosted its position in HubSpot by 33.7% during the 4th quarter. Banco BTG Pactual S.A. now owns 1,000 shares of the software maker’s stock valued at $697,000 after acquiring an additional 252 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of HubSpot in the 4th quarter valued at $36,000. 90.39% of the stock is currently owned by institutional investors.

HubSpot Stock Performance

HUBS opened at $581.45 on Friday. The company has a fifty day moving average of $705.35 and a two-hundred day moving average of $657.85. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $881.13. The stock has a market capitalization of $30.32 billion, a price-to-earnings ratio of 6,461.31, a PEG ratio of 41.44 and a beta of 1.80.

HubSpot (NYSE:HUBS) last released 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%. On average, equities research analysts forecast that HubSpot, Inc. will post 1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Oppenheimer raised their price objective on HubSpot from $850.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Barclays upgraded shares of HubSpot from an “equal weight” rating to an “overweight” rating and set a $815.00 price target on the stock in a report on Wednesday, March 12th. Truist Financial reiterated a “buy” rating and set a $900.00 price objective (up previously from $750.00) on shares of HubSpot in a research note on Thursday, February 13th. Needham & Company LLC raised their target price on shares of HubSpot from $730.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada upped their price target on HubSpot from $825.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $848.58.

Insider Buying and Selling

In other HubSpot news, CEO Yamini Rangan sold 3,057 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 54,079 shares of the company’s stock, valued at $37,941,285.61. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $810.00, for a total value of $6,885,000.00. Following the transaction, the insider now owns 524,751 shares of the company’s stock, valued at approximately $425,048,310. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,853 shares of company stock valued at $15,453,396. 4.50% of the stock is owned by corporate insiders.

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.