Millennium Management LLC Increases Holdings in HubSpot Inc (HUBS)

Millennium Management LLC raised its position in HubSpot Inc (NYSE:HUBS) by 84.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 52,334 shares of the software maker’s stock after acquiring an additional 23,893 shares during the period. Millennium Management LLC owned approximately 0.13% of HubSpot worth $6,563,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Aperio Group LLC lifted its holdings in shares of HubSpot by 16.3% in the second quarter. Aperio Group LLC now owns 3,835 shares of the software maker’s stock valued at $481,000 after purchasing an additional 537 shares in the last quarter. Cambridge Trust Co. lifted its holdings in shares of HubSpot by 14.1% in the second quarter. Cambridge Trust Co. now owns 5,234 shares of the software maker’s stock valued at $656,000 after purchasing an additional 646 shares in the last quarter. Fred Alger Management Inc. lifted its holdings in shares of HubSpot by 0.3% in the second quarter. Fred Alger Management Inc. now owns 265,410 shares of the software maker’s stock valued at $33,282,000 after purchasing an additional 703 shares in the last quarter. MetLife Investment Advisors LLC lifted its holdings in shares of HubSpot by 4.6% in the second quarter. MetLife Investment Advisors LLC now owns 16,478 shares of the software maker’s stock valued at $2,066,000 after purchasing an additional 719 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of HubSpot by 4.0% in the second quarter. Raymond James & Associates now owns 20,444 shares of the software maker’s stock valued at $2,564,000 after purchasing an additional 782 shares in the last quarter. 96.39% of the stock is owned by hedge funds and other institutional investors.

HUBS has been the topic of a number of recent research reports. UBS Group restated a “buy” rating on shares of HubSpot in a report on Tuesday, August 7th. Rosenblatt Securities initiated coverage on HubSpot in a report on Thursday, October 4th. They issued a “buy” rating and a $170.00 target price on the stock. Zacks Investment Research upgraded HubSpot from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a report on Thursday, August 2nd. Morgan Stanley raised their target price on HubSpot from $119.00 to $148.00 and gave the company an “equal weight” rating in a report on Friday, September 7th. Finally, Jefferies Financial Group initiated coverage on HubSpot in a report on Tuesday, October 2nd. They issued a “buy” rating and a $182.00 target price on the stock. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $140.00.

In other news, CEO Brian Halligan sold 25,000 shares of HubSpot stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $149.01, for a total value of $3,725,250.00. Following the completion of the transaction, the chief executive officer now directly owns 706,334 shares in the company, valued at $105,250,829.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel John P. Kelleher sold 4,671 shares of HubSpot stock in a transaction on Monday, July 16th. The shares were sold at an average price of $131.80, for a total value of $615,637.80. Following the completion of the transaction, the general counsel now owns 41,910 shares of the company’s stock, valued at $5,523,738. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,851 shares of company stock worth $18,447,195. Corporate insiders own 9.60% of the company’s stock.

Shares of HUBS opened at $129.73 on Friday. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of -127.19 and a beta of 1.94. The company has a debt-to-equity ratio of 1.35, a quick ratio of 3.26 and a current ratio of 3.26. HubSpot Inc has a 1 year low of $73.15 and a 1 year high of $162.20.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, August 1st. The software maker reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.02. The firm had revenue of $122.60 million for the quarter, compared to analyst estimates of $117.75 million. HubSpot had a negative return on equity of 17.00% and a negative net margin of 12.64%. The business’s revenue was up 37.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. Research analysts anticipate that HubSpot Inc will post -1.1 earnings per share for the current fiscal year.

About HubSpot

HubSpot, Inc provides a cloud-based marketing and sales software platform for businesses in the Americas, Europe, and the Asia Pacific. Its software platform includes integrated applications, such as social media, search engine optimization, blogging, Website content management, marketing automation, email, sales productivity, CRM, analytics, and reporting.

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Institutional Ownership by Quarter for HubSpot (NYSE:HUBS)

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