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

Jennison Associates LLC lowered its holdings in HubSpot, Inc. (NYSE:HUBS) by 47.0% in the third quarter, Holdings Channel reports. The firm owned 421,279 shares of the software maker’s stock after selling 373,398 shares during the quarter. Jennison Associates LLC’s holdings in HubSpot were worth $197,074,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goodman Advisory Group LLC acquired a new position in shares of HubSpot during the 2nd quarter worth about $27,000. Whittier Trust Co. raised its holdings in HubSpot by 136.4% during the second quarter. Whittier Trust Co. now owns 52 shares of the software maker’s stock worth $29,000 after acquiring an additional 30 shares in the last quarter. Rakuten Securities Inc. boosted its position in HubSpot by 783.3% during the second quarter. Rakuten Securities Inc. now owns 53 shares of the software maker’s stock valued at $30,000 after purchasing an additional 47 shares during the last quarter. Hilltop National Bank bought a new position in HubSpot in the second quarter valued at approximately $32,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of HubSpot during the 2nd quarter worth approximately $34,000. 90.39% of the stock is owned by institutional investors.

Insider Buying and Selling at HubSpot

In other news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 25,735 shares of company stock worth $8,943,006 over the last three months. 4.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on HUBS shares. Zacks Research cut HubSpot from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. KeyCorp dropped their price target on shares of HubSpot from $775.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. The Goldman Sachs Group cut their price target on shares of HubSpot from $717.00 to $612.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Rothschild & Co Redburn restated a “neutral” rating and set a $450.00 price objective (down from $610.00) on shares of HubSpot in a research note on Monday, November 10th. Finally, BMO Capital Markets cut their target price on shares of HubSpot from $550.00 to $465.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, HubSpot presently has an average rating of “Moderate Buy” and a consensus target price of $601.40.

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 company has a market capitalization of $16.88 billion, a PE ratio of -4,028.39, a price-to-earnings-growth ratio of 7.56 and a beta of 1.46. The firm has a 50 day moving average price of $370.22 and a two-hundred day moving average price of $442.49.

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