Abdiel Capital Advisors LP Decreases Stock Position in HubSpot, Inc. (NYSE:HUBS)

Abdiel Capital Advisors LP cut its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 15.1% during the fourth quarter, Holdings Channel reports. The fund owned 831,259 shares of the software maker’s stock after selling 148,289 shares during the period. HubSpot makes up about 25.1% of Abdiel Capital Advisors LP’s portfolio, making the stock its biggest position. Abdiel Capital Advisors LP’s holdings in HubSpot were worth $482,579,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of HUBS. Vanguard Group Inc. lifted its stake in shares of HubSpot by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,670,391 shares of the software maker’s stock valued at $2,300,168,000 after purchasing an additional 41,689 shares during the period. JPMorgan Chase & Co. raised its stake in HubSpot by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,716,774 shares of the software maker’s stock worth $1,338,012,000 after buying an additional 166,381 shares during the period. Wellington Management Group LLP raised its stake in HubSpot by 26.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,247,345 shares of the software maker’s stock worth $614,317,000 after buying an additional 257,632 shares during the period. Jennison Associates LLC raised its stake in HubSpot by 22.8% during the 4th quarter. Jennison Associates LLC now owns 972,957 shares of the software maker’s stock worth $564,840,000 after buying an additional 180,822 shares during the period. Finally, Norges Bank acquired a new stake in HubSpot during the 4th quarter worth $311,236,000. 90.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other HubSpot news, CFO Kathryn Bueker sold 2,191 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $650.00, for a total transaction of $1,424,150.00. Following the sale, the chief financial officer now owns 45,737 shares of the company’s stock, valued at $29,729,050. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Kathryn Bueker sold 2,191 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $650.00, for a total value of $1,424,150.00. Following the sale, the chief financial officer now owns 45,737 shares of the company’s stock, valued at $29,729,050. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total transaction of $5,407,530.00. Following the transaction, the insider now owns 526,041 shares in the company, valued at approximately $334,656,763.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,353 shares of company stock valued at $12,845,623. 4.50% of the stock is currently owned by insiders.

HubSpot Stock Performance

HUBS stock traded down $2.38 during mid-day trading on Tuesday, hitting $593.54. 169,159 shares of the company were exchanged, compared to its average volume of 557,897. The business has a 50 day simple moving average of $621.70 and a 200-day simple moving average of $595.97. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $30.25 billion, a PE ratio of -224.78 and a beta of 1.57. HubSpot, Inc. has a 1-year low of $407.23 and a 1-year high of $693.85.

HubSpot (NYSE:HUBS) last issued its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.27. The firm had revenue of $617.41 million during the quarter, compared to the consensus estimate of $597.12 million. HubSpot had a negative net margin of 5.78% and a negative return on equity of 4.94%. On average, equities analysts forecast that HubSpot, Inc. will post -0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on HUBS shares. Mizuho dropped their price objective on HubSpot from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. The Goldman Sachs Group increased their target price on HubSpot from $577.00 to $656.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. BMO Capital Markets lowered their target price on HubSpot from $710.00 to $635.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Scotiabank increased their target price on HubSpot from $650.00 to $700.00 and gave the stock a “sector outperform” rating in a report on Friday, April 5th. Finally, Canaccord Genuity Group lowered their target price on HubSpot from $750.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $641.00.

About HubSpot

HubSpot, Inc, together with its subsidiaries, provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes Marketing Hub, a toolset for marketing automation and email, social media, SEO, and reporting and analytics; Sales Hub offers email templates and tracking, conversations and live chat, meeting and call scheduling, lead and website visit alerts, lead scoring, sales automation, pipeline management, quoting, forecasting, and reporting; Service Hub, a service software designed to help businesses manage, respond, and connect with customers; and Content Management Systems Hub enables businesses to create new and edit existing web content.