Kornitzer Capital Management Inc. KS Has $494,000 Position in HubSpot, Inc. $HUBS

Kornitzer Capital Management Inc. KS cut its position in shares of HubSpot, Inc. (NYSE:HUBS) by 93.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,056 shares of the software maker’s stock after selling 13,944 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in HubSpot were worth $494,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Rakuten Investment Management Inc. bought a new position in shares of HubSpot in the 3rd quarter valued at about $48,548,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of HubSpot by 19.2% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,533 shares of the software maker’s stock valued at $5,306,000 after purchasing an additional 1,533 shares during the period. Nordea Investment Management AB lifted its stake in HubSpot by 34.9% in the 3rd quarter. Nordea Investment Management AB now owns 21,638 shares of the software maker’s stock valued at $10,148,000 after purchasing an additional 5,595 shares during the last quarter. Triasima Portfolio Management inc. bought a new position in HubSpot during the third quarter worth about $2,079,000. Finally, Los Angeles Capital Management LLC grew its holdings in HubSpot by 24.1% during the second quarter. Los Angeles Capital Management LLC now owns 13,228 shares of the software maker’s stock worth $7,363,000 after purchasing an additional 2,569 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

HUBS has been the topic of several research analyst reports. UBS Group dropped their price objective on HubSpot from $600.00 to $450.00 and set a “buy” rating on the stock in a research note on Wednesday. Piper Sandler dropped their price target on HubSpot from $675.00 to $590.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Mizuho cut their price target on HubSpot from $700.00 to $550.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. KeyCorp reduced their price objective on shares of HubSpot from $775.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, Stifel Nicolaus dropped their price objective on shares of HubSpot from $550.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, HubSpot has a consensus rating of “Moderate Buy” and an average target price of $595.73.

HubSpot Stock Performance

HUBS opened at $316.74 on Thursday. The stock has a fifty day moving average of $367.56 and a 200-day moving average of $436.97. The company has a market capitalization of $16.59 billion, a P/E ratio of -3,959.29, a P/E/G ratio of 7.57 and a beta of 1.46. HubSpot, Inc. has a fifty-two week low of $300.09 and a fifty-two week high of $881.13.

HubSpot (NYSE:HUBS) last released its quarterly 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. HubSpot had a negative net margin of 0.12% and a positive return on equity of 1.21%. The business had revenue of $809.52 million for the quarter, compared to the consensus estimate of $786.80 million. During the same period in the prior year, the company posted $2.18 earnings per share. HubSpot’s revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts predict that HubSpot, Inc. will post 1.01 earnings per share 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 sale, the director owned 487,344 shares of the company’s stock, valued at $147,850,422.72. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 25,735 shares of company stock valued at $8,943,006 in the last three months. Insiders own 4.00% of the company’s stock.

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.