Pictet Asset Management Holding SA Sells 22,529 Shares of HubSpot, Inc. (NYSE:HUBS)

Pictet Asset Management Holding SA lessened its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 431,726 shares of the software maker’s stock after selling 22,529 shares during the period. Pictet Asset Management Holding SA owned approximately 0.84% of HubSpot worth $300,814,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of HubSpot in the third quarter worth approximately $25,000. Larson Financial Group LLC raised its holdings in HubSpot by 168.8% in the 4th quarter. Larson Financial Group LLC now owns 43 shares of the software maker’s stock worth $30,000 after acquiring an additional 27 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in HubSpot by 73.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 45 shares of the software maker’s stock valued at $31,000 after purchasing an additional 19 shares during the last quarter. Bank of Jackson Hole Trust purchased a new stake in HubSpot during the 4th quarter valued at $35,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of HubSpot in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Activity

In other HubSpot news, CEO Yamini Rangan sold 3,057 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $701.59, for a total transaction of $2,144,760.63. Following the completion of the transaction, the chief executive officer now owns 54,079 shares in the company, valued at $37,941,285.61. This trade represents a 5.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 524,751 shares in the company, valued at approximately $425,048,310. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,853 shares of company stock worth $15,453,396 over the last 90 days. Corporate insiders own 4.50% of the company’s stock.

HubSpot Trading Down 2.5 %

NYSE HUBS opened at $593.32 on Friday. HubSpot, Inc. has a 12 month low of $434.84 and a 12 month high of $881.13. The stock has a market cap of $30.94 billion, a PE ratio of 6,593.13, a P/E/G ratio of 41.44 and a beta of 1.80. The stock’s 50 day moving average is $707.81 and its 200 day moving average is $657.24.

HubSpot (NYSE:HUBS) last released its 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 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HUBS has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on HubSpot from $635.00 to $725.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Jefferies Financial Group boosted their price objective on shares of HubSpot from $860.00 to $900.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Morgan Stanley raised their target price on shares of HubSpot from $835.00 to $898.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Piper Sandler boosted their target price on shares of HubSpot from $640.00 to $808.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Sanford C. Bernstein initiated coverage on HubSpot in a research note on Thursday, March 20th. They issued a “market perform” rating and a $693.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $848.58.

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.