Jennison Associates LLC Has $197.07 Million Stock Position in HubSpot, Inc. $HUBS

Jennison Associates LLC cut its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 47.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 421,279 shares of the software maker’s stock after selling 373,398 shares during the period. Jennison Associates LLC owned 0.80% of HubSpot worth $197,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Empowered Funds LLC lifted its holdings in HubSpot by 88.5% in the first quarter. Empowered Funds LLC now owns 1,570 shares of the software maker’s stock valued at $897,000 after buying an additional 737 shares during the period. Farther Finance Advisors LLC raised its position in shares of HubSpot by 12.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 360 shares of the software maker’s stock valued at $201,000 after acquiring an additional 41 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of HubSpot in the 2nd quarter valued at $729,000. Ballentine Partners LLC grew its stake in shares of HubSpot by 251.0% during the second quarter. Ballentine Partners LLC now owns 2,050 shares of the software maker’s stock worth $1,141,000 after purchasing an additional 1,466 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in HubSpot by 6.5% in the second quarter. Public Employees Retirement System of Ohio now owns 24,350 shares of the software maker’s stock valued at $13,554,000 after purchasing an additional 1,483 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

HubSpot Stock Up 0.9%

Shares of HUBS stock opened at $322.27 on Friday. HubSpot, Inc. has a 12-month low of $300.09 and a 12-month high of $881.13. The firm has a fifty day moving average of $370.22 and a 200-day moving average of $442.49. The company has a market capitalization of $16.88 billion, a price-to-earnings ratio of -4,028.39, a P/E/G ratio of 7.56 and a beta of 1.46.

HubSpot (NYSE:HUBS) last announced its earnings results on Thursday, November 6th. The software maker reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.08. HubSpot had a negative net margin of 0.12% and a positive return on equity of 1.21%. The firm had revenue of $809.52 million during the quarter, compared to analyst estimates of $786.80 million. During the same period in the prior year, the business earned $2.18 EPS. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, equities analysts expect that HubSpot, Inc. will post 1.01 EPS for the current year.

Insider Activity

In related news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $303.38, for a total value of $2,578,730.00. Following the sale, the director owned 487,344 shares of the company’s stock, valued at approximately $147,850,422.72. This trade represents a 1.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 25,735 shares of company stock worth $8,943,006 in the last ninety days. 4.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HUBS shares. KeyCorp reduced their target price on HubSpot from $775.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Canaccord Genuity Group decreased their price objective on shares of HubSpot from $700.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Bank of America lowered their target price on shares of HubSpot from $640.00 to $515.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Wells Fargo & Company reduced their price target on shares of HubSpot from $685.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, Citigroup reissued a “buy” rating on shares of HubSpot in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $601.40.

About HubSpot

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.