Mirae Asset Global Investments Co. Ltd. Has $2.47 Million Stake in HubSpot, Inc. $HUBS

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 42.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,279 shares of the software maker’s stock after selling 3,822 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in HubSpot were worth $2,470,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Jennison Associates LLC boosted its position in HubSpot by 548.6% in the 2nd quarter. Jennison Associates LLC now owns 794,677 shares of the software maker’s stock valued at $442,341,000 after buying an additional 672,158 shares during the last quarter. Norges Bank bought a new position in HubSpot in the second quarter valued at about $269,941,000. Neuberger Berman Group LLC increased its position in HubSpot by 166.2% in the second quarter. Neuberger Berman Group LLC now owns 321,679 shares of the software maker’s stock worth $179,055,000 after purchasing an additional 200,844 shares during the period. Vanguard Group Inc. raised its holdings in HubSpot by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 5,391,241 shares of the software maker’s stock worth $3,000,926,000 after purchasing an additional 144,507 shares during the last quarter. Finally, Rakuten Investment Management Inc. acquired a new position in HubSpot during the 3rd quarter valued at about $48,548,000. Institutional investors own 90.39% of the company’s stock.

HubSpot Trading Down 2.3%

Shares of HubSpot stock opened at $273.66 on Tuesday. The company has a market capitalization of $14.34 billion, a PE ratio of -3,420.79, a PEG ratio of 6.65 and a beta of 1.45. HubSpot, Inc. has a 12 month low of $270.46 and a 12 month high of $881.13. The stock’s fifty day simple moving average is $362.89 and its 200 day simple moving average is $430.87.

HubSpot (NYSE:HUBS) last posted its earnings results on Thursday, November 6th. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.08. HubSpot had a positive return on equity of 1.21% and a negative net margin of 0.12%.The firm had revenue of $809.52 million during the quarter, compared to analysts’ expectations of $786.80 million. During the same period in the previous year, the firm earned $2.18 earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. Analysts predict that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity

In related news, Director Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $303.38, for a total transaction of $2,578,730.00. Following the completion of the sale, the director directly owned 487,344 shares of the company’s stock, valued at approximately $147,850,422.72. This represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 25,500 shares of company stock valued at $8,827,080. 4.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on HUBS. Oppenheimer lowered their price target on shares of HubSpot from $750.00 to $550.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Stifel Nicolaus lowered their target price on shares of HubSpot from $550.00 to $500.00 and set a “buy” rating for the company in a report on Friday, January 23rd. Canaccord Genuity Group dropped their target price on shares of HubSpot from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. BTIG Research assumed coverage on HubSpot in a research note on Monday, January 5th. They set a “buy” rating and a $500.00 price objective for the company. Finally, KeyCorp dropped their price objective on HubSpot from $775.00 to $650.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, HubSpot has a consensus rating of “Moderate Buy” and an average target price of $586.73.

HubSpot Company 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.