Kornitzer Capital Management Inc. KS increased its stake in shares of HubSpot Inc. (NYSE:HUBS) by 51.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 196,105 shares of the company’s stock after buying an additional 66,200 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in HubSpot were worth $8,515,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in HUBS. Wellington Management Group LLP boosted its position in HubSpot by 20.6% in the first quarter. Wellington Management Group LLP now owns 2,798,986 shares of the company’s stock valued at $122,092,000 after buying an additional 478,539 shares during the period. Cupps Capital Management LLC boosted its position in HubSpot by 31.1% in the first quarter. Cupps Capital Management LLC now owns 147,716 shares of the company’s stock valued at $6,443,000 after buying an additional 35,031 shares during the period. Brookside Capital Management LLC acquired a new position in HubSpot during the first quarter valued at about $9,387,000. Bank of Montreal Can acquired a new position in HubSpot during the second quarter valued at about $4,707,000. Finally, Teachers Advisors Inc. boosted its position in HubSpot by 475.6% in the first quarter. Teachers Advisors Inc. now owns 161,741 shares of the company’s stock valued at $7,055,000 after buying an additional 133,643 shares during the period. Hedge funds and other institutional investors own 88.33% of the company’s stock.
Shares of HubSpot Inc. (NYSE:HUBS) traded down 0.75% on Friday, hitting $53.25. The stock had a trading volume of 233,617 shares. The company’s market cap is $1.88 billion. The company’s 50 day moving average price is $56.19 and its 200-day moving average price is $50.18. HubSpot Inc. has a 12 month low of $27.00 and a 12 month high of $60.11.
HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.08. The business earned $65 million during the quarter, compared to analyst estimates of $61.67 million. HubSpot had a negative return on equity of 36.88% and a negative net margin of 20.03%. HubSpot’s revenue was up 51.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) EPS. On average, analysts expect that HubSpot Inc. will post ($0.53) earnings per share for the current year.
Several equities analysts have recently issued reports on HUBS shares. Zacks Investment Research raised HubSpot from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, August 9th. Rosenblatt Securities boosted their target price on HubSpot from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Stephens started coverage on HubSpot in a research note on Tuesday, August 30th. They set an “overweight” rating and a $65.00 target price on the stock. Vetr cut HubSpot from a “strong-buy” rating to a “buy” rating and set a $60.75 target price on the stock. in a research note on Monday, August 1st. Finally, Morgan Stanley boosted their target price on HubSpot from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, July 14th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $63.41.
In other news, insider Dharmesh Shah sold 40,000 shares of HubSpot stock in a transaction on Monday, August 8th. The stock was sold at an average price of $57.24, for a total value of $2,289,600.00. Following the transaction, the insider now directly owns 1,819,407 shares in the company, valued at approximately $104,142,856.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hunter Madeley sold 800 shares of HubSpot stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $53.58, for a total value of $42,864.00. Following the completion of the transaction, the insider now owns 115,508 shares in the company, valued at $6,188,918.64. The disclosure for this sale can be found here. Company insiders own 18.50% of the company’s stock.
HubSpot Company Profile
HubSpot, Inc (HubSpot) provides a cloud-based marketing and sales software platform. The Company’s software platform features integrated applications, which include social media, search engine optimization (SEO), blogging, Website content management, marketing automation, e-mail, customer relationship management (CRM), analytics and reporting.
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