30,000 Shares in HubSpot, Inc. (NYSE:HUBS) Purchased by Alkeon Capital Management LLC

Alkeon Capital Management LLC acquired a new stake in shares of HubSpot, Inc. (NYSE:HUBS) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,000 shares of the software maker’s stock, valued at approximately $15,948,000. Alkeon Capital Management LLC owned approximately 0.06% of HubSpot at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in HubSpot by 2.9% in the 1st quarter. Janus Henderson Group PLC now owns 24,521 shares of the software maker’s stock worth $15,364,000 after purchasing an additional 689 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of HubSpot by 2.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,114 shares of the software maker’s stock worth $698,000 after buying an additional 30 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in shares of HubSpot by 36.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,092 shares of the software maker’s stock valued at $684,000 after buying an additional 294 shares in the last quarter. Comerica Bank grew its holdings in shares of HubSpot by 4.0% during the first quarter. Comerica Bank now owns 15,806 shares of the software maker’s stock valued at $9,903,000 after buying an additional 608 shares in the last quarter. Finally, Swedbank AB acquired a new position in HubSpot during the first quarter valued at $15,844,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HUBS shares. Wells Fargo & Company raised their price objective on HubSpot from $625.00 to $750.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and set a $730.00 price target on shares of HubSpot in a report on Thursday, November 7th. Truist Financial reiterated a “buy” rating and issued a $750.00 price objective (up previously from $600.00) on shares of HubSpot in a research note on Friday, November 8th. Canaccord Genuity Group lifted their target price on shares of HubSpot from $600.00 to $710.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of HubSpot from $560.00 to $635.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $672.68.

Insider Activity

In related news, CTO Dharmesh Shah sold 25,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $672.62, for a total value of $16,815,500.00. Following the completion of the sale, the chief technology officer now owns 1,323,145 shares in the company, valued at approximately $889,973,789.90. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the sale, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. This trade represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,391 shares of company stock valued at $29,101,488. 4.50% of the stock is owned by company insiders.

HubSpot Price Performance

HubSpot stock opened at $722.76 on Friday. The firm has a fifty day moving average price of $593.23 and a two-hundred day moving average price of $555.52. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $754.56.

HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.27. The business had revenue of $669.72 million during the quarter, compared to analysts’ expectations of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. Analysts forecast that HubSpot, Inc. will post 0.4 EPS for the current fiscal year.

HubSpot Company Profile

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.