Neuberger Berman Group LLC Acquires Shares of 13,430 HubSpot, Inc. (HUBS)
Neuberger Berman Group LLC acquired a new position in HubSpot, Inc. (NYSE:HUBS) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,430 shares of the software maker’s stock, valued at approximately $883,000.
Other institutional investors have also modified their holdings of the company. Vista Equity Partners Management LLC grew its position in HubSpot by 25.8% in the first quarter. Vista Equity Partners Management LLC now owns 161,953 shares of the software maker’s stock worth $9,806,000 after acquiring an additional 33,250 shares during the period. Great Lakes Advisors LLC purchased a new position in HubSpot in the second quarter worth approximately $877,000. Prudential Financial Inc. purchased a new position in HubSpot in the first quarter worth approximately $259,000. DekaBank Deutsche Girozentrale purchased a new position in HubSpot in the first quarter worth approximately $364,000. Finally, California Public Employees Retirement System purchased a new position in HubSpot in the first quarter worth approximately $11,632,000. Institutional investors own 96.08% of the company’s stock.
HUBS has been the subject of several analyst reports. SunTrust Banks, Inc. started coverage on HubSpot in a research report on Monday, June 26th. They issued a “buy” rating and a $81.00 price objective for the company. Morgan Stanley upped their price target on HubSpot from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, July 20th. Oppenheimer Holdings, Inc. set a $80.00 price target on HubSpot and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Canaccord Genuity upped their price target on HubSpot from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, UBS AG restated a “buy” rating and set a $84.00 price target (up from $77.00) on shares of HubSpot in a research note on Thursday, August 3rd. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $74.35.
In related news, Director Lorrie M. Norrington sold 4,899 shares of the company’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $65.25, for a total transaction of $319,659.75. Following the completion of the sale, the director now directly owns 2,164 shares of the company’s stock, valued at approximately $141,201. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Hunter Madeley sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $63.70, for a total transaction of $63,700.00. Following the sale, the insider now directly owns 87,211 shares of the company’s stock, valued at $5,555,340.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,899 shares of company stock valued at $2,628,930. 18.50% of the stock is owned by corporate insiders.
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Shares of HubSpot, Inc. (NYSE HUBS) opened at 77.35 on Wednesday. HubSpot, Inc. has a 52 week low of $44.90 and a 52 week high of $78.50. The firm’s market capitalization is $2.86 billion. The stock has a 50 day moving average price of $70.94 and a 200 day moving average price of $67.85.
HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. HubSpot had a negative net margin of 13.17% and a negative return on equity of 27.99%. The firm had revenue of $89.10 million during the quarter, compared to analysts’ expectations of $85.80 million. During the same period in the prior year, the company earned ($0.07) EPS. The firm’s revenue was up 37.1% on a year-over-year basis. Equities analysts forecast that HubSpot, Inc. will post $0.05 earnings per share for the current fiscal year.
HubSpot Company Profile
HubSpot, Inc (HubSpot) provides a cloud-based marketing and sales software platform. The Company’s software platform features integrated applications to help businesses attract visitors to their Websites, convert visitors into leads, close leads into customers and delight customers so that they become promoters of those businesses.
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