HubSpot, Inc. (NYSE:HUBS) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in HubSpot, Inc. (NYSE:HUBS) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,890 shares of the software maker’s stock after acquiring an additional 93 shares during the quarter. CIBC Asset Management Inc’s holdings in HubSpot were worth $1,005,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HUBS. International Assets Investment Management LLC purchased a new position in shares of HubSpot during the 2nd quarter worth $35,000. HM Payson & Co. increased its stake in shares of HubSpot by 36.0% during the 3rd quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock valued at $36,000 after acquiring an additional 18 shares during the last quarter. Crewe Advisors LLC lifted its holdings in shares of HubSpot by 525.0% during the 2nd quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock worth $44,000 after acquiring an additional 63 shares during the period. J.Safra Asset Management Corp boosted its position in shares of HubSpot by 690.9% in the second quarter. J.Safra Asset Management Corp now owns 87 shares of the software maker’s stock worth $51,000 after acquiring an additional 76 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in HubSpot by 41.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 109 shares of the software maker’s stock valued at $64,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on HUBS shares. JPMorgan Chase & Co. increased their price target on shares of HubSpot from $560.00 to $635.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Truist Financial reissued a “buy” rating and set a $750.00 price target (up previously from $600.00) on shares of HubSpot in a research report on Friday, November 8th. Citigroup cut their price objective on HubSpot from $699.00 to $629.00 and set a “buy” rating on the stock in a report on Friday, August 9th. KeyCorp upgraded HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 target price for the company in a report on Thursday, August 8th. Finally, Canaccord Genuity Group increased their price target on HubSpot from $600.00 to $710.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, HubSpot currently has an average rating of “Moderate Buy” and a consensus price target of $672.68.

HubSpot Stock Performance

NYSE:HUBS opened at $695.00 on Thursday. The stock has a 50-day simple moving average of $565.99 and a 200 day simple moving average of $549.90. HubSpot, Inc. has a one year low of $434.84 and a one year high of $724.61. The company has a market capitalization of $35.88 billion, a price-to-earnings ratio of -2,573.98, a price-to-earnings-growth ratio of 82.30 and a beta of 1.63.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.27. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The firm had revenue of $669.72 million during the quarter, compared to analyst estimates of $646.97 million. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities research analysts forecast that HubSpot, Inc. will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Yamini Rangan sold 116 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total value of $56,978.04. Following the sale, the chief executive officer now owns 67,203 shares of the company’s stock, valued at $33,009,441.57. This trade represents a 0.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Dharmesh Shah sold 25,000 shares of HubSpot stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $672.62, for a total transaction of $16,815,500.00. Following the completion of the sale, the chief technology officer now owns 1,323,145 shares in the company, valued at approximately $889,973,789.90. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,391 shares of company stock worth $29,101,488 over the last quarter. 4.50% of the stock is 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.