Alcosta Capital Management Inc. Raises Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

Alcosta Capital Management Inc. raised its position in shares of HubSpot, Inc. (NYSE:HUBS) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,183 shares of the software maker’s stock after purchasing an additional 118 shares during the period. HubSpot comprises about 2.1% of Alcosta Capital Management Inc.’s investment portfolio, making the stock its 24th largest position. Alcosta Capital Management Inc.’s holdings in HubSpot were worth $3,611,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in HubSpot during the 4th quarter valued at about $420,345,000. Wellington Management Group LLP lifted its holdings in shares of HubSpot by 52.2% during the third quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock valued at $745,410,000 after purchasing an additional 480,796 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of HubSpot during the fourth quarter valued at approximately $157,019,000. Wealthfront Advisers LLC boosted its position in shares of HubSpot by 3,090.2% in the 4th quarter. Wealthfront Advisers LLC now owns 133,543 shares of the software maker’s stock worth $93,049,000 after purchasing an additional 129,357 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of HubSpot in the 4th quarter worth approximately $79,135,000. Institutional investors own 90.39% of the company’s stock.

Insider Activity at HubSpot

In other news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated 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 sale, the insider now directly owns 524,751 shares of the company’s stock, valued at approximately $425,048,310. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Yamini Rangan sold 2,382 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $41,536,312.16. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,382 shares of company stock valued at $13,415,657. 4.50% of the stock is owned by company insiders.

HubSpot Stock Performance

NYSE HUBS opened at $500.79 on Friday. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $881.13. The company has a market capitalization of $26.12 billion, a PE ratio of 5,564.93, a price-to-earnings-growth ratio of 41.44 and a beta of 1.82. The business’s fifty day moving average is $688.31 and its 200 day moving average is $661.13.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on HUBS shares. Morgan Stanley lifted their price objective on HubSpot from $835.00 to $898.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Sanford C. Bernstein initiated coverage on shares of HubSpot in a research note on Thursday, March 20th. They issued a “market perform” rating and a $693.00 price target on the stock. Royal Bank of Canada increased their price objective on shares of HubSpot from $825.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Bank of America lifted their target price on shares of HubSpot from $780.00 to $850.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Oppenheimer increased their price target on shares of HubSpot from $850.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, HubSpot has an average rating of “Moderate Buy” and an average target price of $848.58.

HubSpot 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.