Pier 88 Investment Partners LLC Acquires 1,380 Shares of HubSpot, Inc. (NYSE:HUBS)

Pier 88 Investment Partners LLC boosted its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 197.1% during the second quarter, Holdings Channel.com reports. The firm owned 2,080 shares of the software maker’s stock after acquiring an additional 1,380 shares during the period. Pier 88 Investment Partners LLC’s holdings in HubSpot were worth $1,227,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Riverview Trust Co bought a new stake in shares of HubSpot in the 1st quarter valued at approximately $27,000. Geneos Wealth Management Inc. raised its holdings in HubSpot by 1,125.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker’s stock valued at $31,000 after buying an additional 45 shares during the period. International Assets Investment Management LLC bought a new stake in HubSpot in the second quarter worth $35,000. Crewe Advisors LLC increased its position in HubSpot by 525.0% during the second quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock valued at $44,000 after acquiring an additional 63 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC raised its stake in shares of HubSpot by 54.0% in the first quarter. SYSTM Wealth Solutions LLC now owns 77 shares of the software maker’s stock valued at $48,000 after acquiring an additional 27 shares during the period. Institutional investors own 90.39% of the company’s stock.

HubSpot Trading Down 1.5 %

HUBS opened at $496.48 on Friday. The firm has a market cap of $25.30 billion, a price-to-earnings ratio of -187.35, a PEG ratio of 3,148.72 and a beta of 1.63. HubSpot, Inc. has a 12 month low of $407.23 and a 12 month high of $693.85. The stock has a fifty day moving average price of $500.50 and a 200-day moving average price of $573.90.

HubSpot (NYSE:HUBS) last announced its earnings results on Wednesday, August 7th. The software maker reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $637.20 million during the quarter, compared to the consensus estimate of $619.28 million. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted ($1.17) earnings per share. On average, equities research analysts forecast that HubSpot, Inc. will post 0.01 EPS for the current year.

Insider Activity at HubSpot

In other news, CEO Yamini Rangan sold 116 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the sale, the chief executive officer now owns 67,203 shares in the company, valued at approximately $33,009,441.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the sale, the chief executive officer now owns 67,203 shares in the company, valued at $33,009,441.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathryn Bueker sold 1,135 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total transaction of $672,828.00. Following the completion of the transaction, the chief financial officer now directly owns 44,715 shares of the company’s stock, valued at $26,507,052. The disclosure for this sale can be found here. Insiders sold 38,012 shares of company stock valued at $21,300,253 over the last 90 days. Insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBS has been the topic of several analyst reports. Barclays cut their price target on shares of HubSpot from $575.00 to $500.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Evercore ISI cut their target price on HubSpot from $650.00 to $550.00 and set an “in-line” rating on the stock in a research note on Thursday, August 8th. Piper Sandler reissued an “overweight” rating and set a $570.00 price target on shares of HubSpot in a research note on Thursday, August 8th. Truist Financial restated a “buy” rating and set a $600.00 price objective (down previously from $700.00) on shares of HubSpot in a report on Thursday, August 8th. Finally, Stifel Nicolaus reduced their target price on HubSpot from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, HubSpot currently has a consensus rating of “Moderate Buy” and a consensus target price of $610.79.

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.