Renaissance Technologies LLC Sells 29,600 Shares of HubSpot, Inc. (NYSE:HUBS)

Renaissance Technologies LLC decreased its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 62.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,100 shares of the software maker’s stock after selling 29,600 shares during the period. Renaissance Technologies LLC’s holdings in HubSpot were worth $12,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of HUBS. Wilmington Savings Fund Society FSB bought a new stake in HubSpot during the third quarter valued at about $25,000. Larson Financial Group LLC grew its stake in shares of HubSpot by 168.8% during the 4th quarter. Larson Financial Group LLC now owns 43 shares of the software maker’s stock valued at $30,000 after acquiring an additional 27 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in HubSpot by 73.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 45 shares of the software maker’s stock worth $31,000 after acquiring an additional 19 shares in the last quarter. Aster Capital Management DIFC Ltd raised its stake in HubSpot by 213.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker’s stock worth $33,000 after acquiring an additional 32 shares during the period. Finally, Bank of Jackson Hole Trust purchased a new position in HubSpot during the fourth quarter valued at approximately $35,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other HubSpot news, CEO Yamini Rangan sold 2,382 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $573.92, for a total value of $1,367,077.44. Following the transaction, the chief executive officer now directly owns 72,373 shares in the company, valued at $41,536,312.16. This represents a 3.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total transaction 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. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,382 shares of company stock valued at $13,415,657 in the last 90 days. Company insiders own 4.50% of the company’s stock.

HubSpot Price Performance

Shares of NYSE HUBS opened at $546.91 on Wednesday. HubSpot, Inc. has a 1 year low of $434.84 and a 1 year high of $881.13. The firm has a 50-day simple moving average of $642.64 and a two-hundred day simple moving average of $659.76. The company has a market cap of $28.52 billion, a P/E ratio of 6,077.41, a PEG ratio of 41.44 and a beta of 1.82.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share (EPS) 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%. As a group, equities research analysts expect that HubSpot, Inc. will post 1.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HUBS. Truist Financial restated a “buy” rating and set a $900.00 price objective (up from $750.00) on shares of HubSpot in a research report on Thursday, February 13th. Stephens assumed coverage on HubSpot in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $769.00 price objective on the stock. Barclays upgraded HubSpot from an “equal weight” rating to an “overweight” rating and set a $815.00 target price for the company in a research report on Wednesday, March 12th. William Blair reissued an “outperform” rating on shares of HubSpot in a report on Thursday, February 13th. Finally, Wells Fargo & Company increased their price objective on shares of HubSpot from $835.00 to $940.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $834.15.

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.