Franklin Resources Inc. Lowers Holdings in HubSpot, Inc. $HUBS

Franklin Resources Inc. trimmed its holdings in HubSpot, Inc. (NYSE:HUBS) by 16.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,083,437 shares of the software maker’s stock after selling 213,601 shares during the quarter. Franklin Resources Inc.’s holdings in HubSpot were worth $506,832,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in shares of HubSpot by 88.5% in the first quarter. Empowered Funds LLC now owns 1,570 shares of the software maker’s stock worth $897,000 after buying an additional 737 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of HubSpot during the second quarter worth $39,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of HubSpot by 5.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 42,986 shares of the software maker’s stock worth $23,927,000 after acquiring an additional 2,338 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in HubSpot by 22.4% during the second quarter. Illinois Municipal Retirement Fund now owns 14,219 shares of the software maker’s stock valued at $7,915,000 after acquiring an additional 2,604 shares in the last quarter. Finally, Allworth Financial LP grew its stake in HubSpot by 67.7% during the second quarter. Allworth Financial LP now owns 275 shares of the software maker’s stock valued at $153,000 after acquiring an additional 111 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on HUBS shares. Royal Bank Of Canada decreased their price target on shares of HubSpot from $800.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Cantor Fitzgerald lifted their target price on HubSpot from $280.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Mizuho reduced their target price on HubSpot from $550.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Stifel Nicolaus decreased their target price on HubSpot from $550.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. dropped their price target on HubSpot from $650.00 to $530.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, HubSpot currently has a consensus rating of “Moderate Buy” and a consensus target price of $454.20.

Insider Transactions at HubSpot

In related news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $303.38, for a total transaction of $2,578,730.00. Following the completion of the transaction, the director directly owned 487,344 shares of the company’s stock, valued at approximately $147,850,422.72. The trade was a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erika Ashley Fisher sold 841 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $238.01, for a total transaction of $200,166.41. Following the transaction, the insider owned 10,119 shares in the company, valued at $2,408,423.19. The trade was a 7.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 26,691 shares of company stock valued at $8,136,702. 4.00% of the stock is owned by corporate insiders.

HubSpot Stock Down 3.8%

Shares of HUBS opened at $259.09 on Thursday. The company has a market cap of $13.66 billion, a PE ratio of 297.81, a P/E/G ratio of 4.02 and a beta of 1.40. The business has a fifty day moving average of $290.72 and a 200 day moving average of $385.54. HubSpot, Inc. has a 52-week low of $207.20 and a 52-week high of $682.57.

HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Wednesday, February 11th. The software maker reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.10. HubSpot had a net margin of 1.47% and a return on equity of 3.64%. The business had revenue of $846.75 million for the quarter, compared to analysts’ expectations of $830.65 million. During the same quarter in the previous year, the business posted $2.32 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, research analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

HubSpot Profile

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.