Pier 88 Investment Partners LLC Boosts Position in HubSpot, Inc. (NYSE:HUBS)

Pier 88 Investment Partners LLC lifted its position in HubSpot, Inc. (NYSE:HUBS) by 217.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,320 shares of the software maker’s stock after purchasing an additional 1,590 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in HubSpot were worth $1,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Townsquare Capital LLC increased its stake in HubSpot by 93.1% during the third quarter. Townsquare Capital LLC now owns 668 shares of the software maker’s stock worth $355,000 after acquiring an additional 322 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of HubSpot during the 3rd quarter worth about $509,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in HubSpot by 1.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,264 shares of the software maker’s stock valued at $15,025,000 after buying an additional 340 shares during the period. Captrust Financial Advisors lifted its position in HubSpot by 132.6% in the third quarter. Captrust Financial Advisors now owns 1,363 shares of the software maker’s stock valued at $725,000 after buying an additional 777 shares during the last quarter. Finally, Wasatch Advisors LP boosted its stake in HubSpot by 32.8% during the third quarter. Wasatch Advisors LP now owns 6,141 shares of the software maker’s stock worth $3,265,000 after buying an additional 1,518 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

HubSpot Price Performance

Shares of NYSE:HUBS opened at $581.45 on Monday. HubSpot, Inc. has a 12 month low of $434.84 and a 12 month high of $881.13. The firm has a market capitalization of $30.32 billion, a P/E ratio of 6,461.31, a P/E/G ratio of 41.44 and a beta of 1.80. The company’s fifty day moving average price is $705.35 and its 200 day moving average price is $660.14.

HubSpot (NYSE:HUBS) last posted its earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that HubSpot, Inc. will post 1.01 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HUBS. Raymond James upped their price objective on shares of HubSpot from $750.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Barclays upgraded HubSpot from an “equal weight” rating to an “overweight” rating and set a $815.00 price target on the stock in a research note on Wednesday, March 12th. Canaccord Genuity Group lifted their price objective on HubSpot from $710.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company increased their target price on HubSpot from $835.00 to $940.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada lifted their target price on HubSpot from $825.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $848.58.

Insider Activity

In related news, CEO Yamini Rangan sold 3,057 shares of the business’s stock in a transaction dated 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 in the company, valued at $37,941,285.61. The trade was a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 527,233 shares of the company’s stock, valued at $320,283,502.84. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,853 shares of company stock valued at $15,453,396 in the last ninety days. 4.50% of the stock is currently owned by company insiders.

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.