Armstrong Advisory Group Inc. Lowers Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

by · The Cerbat Gem

Armstrong Advisory Group Inc. decreased its holdings in HubSpot, Inc. (NYSE:HUBS – Free Report) by 28.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,041 shares of the software maker’s stock after selling 412 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in HubSpot were worth $553,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HUBS. V Square Quantitative Management LLC raised its holdings in shares of HubSpot by 50.7% in the 4th quarter. V Square Quantitative Management LLC now owns 624 shares of the software maker’s stock worth $362,000 after purchasing an additional 210 shares during the period. Wellington Management Group LLP raised its stake in shares of HubSpot by 50.3% in the 4th quarter. Wellington Management Group LLP now owns 1,874,322 shares of the software maker’s stock valued at $1,088,119,000 after acquiring an additional 626,977 shares during the period. Vanguard Group Inc. lifted its holdings in shares of HubSpot by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 4,790,390 shares of the software maker’s stock valued at $2,781,013,000 after acquiring an additional 119,999 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in HubSpot by 74.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,646 shares of the software maker’s stock valued at $2,117,000 after purchasing an additional 1,560 shares in the last quarter. Finally, HighPoint Advisor Group LLC acquired a new position in shares of HubSpot during the fourth quarter worth about $428,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

HubSpot Stock Performance

HubSpot stock opened at $559.40 on Monday. HubSpot, Inc. has a 52 week low of $407.23 and a 52 week high of $693.85. The firm has a market capitalization of $28.51 billion, a PE ratio of -211.09, a PEG ratio of 7,193.98 and a beta of 1.64. The business’s 50-day simple moving average is $504.35 and its 200-day simple moving average is $556.89.

HubSpot (NYSE:HUBS – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $1.94 EPS for the quarter, topping the consensus estimate of $1.64 by $0.30. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The company had revenue of $637.20 million for the quarter, compared to the consensus estimate of $619.28 million. During the same period in the previous year, the business posted ($1.17) EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis.

Insider Buying and Selling at HubSpot

In related news, insider Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $472.27, for a total value of $4,014,295.00. Following the completion of the sale, the insider now owns 518,152 shares in the company, valued at approximately $244,707,645.04. This trade represents a 0.00 % 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. In other HubSpot news, insider Dawson Alyssa Harvey sold 384 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $467.23, for a total transaction of $179,416.32. Following the completion of the transaction, the insider now owns 9,735 shares in the company, valued at $4,548,484.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $472.27, for a total value of $4,014,295.00. Following the completion of the sale, the insider now owns 518,152 shares in the company, valued at approximately $244,707,645.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,821 shares of company stock valued at $7,388,384 in the last ninety days. Company insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $570.00 price objective on shares of HubSpot in a research note on Thursday, September 19th. Citigroup reduced their target price on HubSpot from $699.00 to $629.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $600.00 price target (down previously from $700.00) on shares of HubSpot in a research note on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $700.00 target price on shares of HubSpot in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group decreased their price target on HubSpot from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, HubSpot has an average rating of “Moderate Buy” and an average price target of $611.83.

Check Out Our Latest Stock Report on HUBS

HubSpot Profile

(Free Report)

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.

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