Brian Halligan Sells Shares of HubSpot, Inc.

On December 17th, Brian Halligan, an insider at HubSpot, Inc. (NYSE:HUBS - Get Free Report), sold 8,500 shares of the company's stock. The shares were sold at an average price of $729.65, resulting in a total transaction value of $6,202,025.00. After this sale, Halligan owns 513,698 shares of HubSpot, with a total value of approximately $374,819,745.70. This sale marks a 1.63% decrease in his ownership stake in the company. The details of this transaction were officially disclosed in a filing with the Securities and Exchange Commission (SEC), which is accessible online.

On the same day, trading activities showed that NYSE HUBS experienced a slight decline of 0.6%, dropping $4.57 to a trading price of $702.45. A total of 588,362 HubSpot shares changed hands that day, surpassing the company's average trading volume of 585,329 shares. HubSpot's stock is currently trading near its 50-day moving average of $649.79 and its 200-day moving average of $567.01. The company boasts a market capitalization of $36.26 billion, with an unusual price-to-earnings (P/E) ratio of -2,601.57.

Previous Transactions by Halligan

Earlier, on November 19th, Halligan also sold 8,500 shares of HubSpot, but at a lower average price of $661.59 per share, amounting to a total transaction value of $5,623,515.00. Such transactions demonstrate Halligan's active participation in trading the company's stock.

Recent Earnings Performance

HubSpot reported its latest earnings results on November 6th, revealing earnings per share (EPS) of $2.18 for the quarter, surpassing analysts' estimates of $1.91 by $0.27. Revenue figures were also encouraging, with the company reporting $669.72 million for the quarter, exceeding anticipations of $646.97 million. Year-over-year, HubSpot's revenue grew by 20.1%, showcasing the company's robust growth trajectory. However, the firm has faced challenges, as indicated by a negative return on equity of 1.16% and a marginal net margin of 0.56%. Analysts estimate that HubSpot will reach an EPS of 0.4 for the current fiscal year.

Institutional Stake Adjustments

In recent months, various institutional investors have made notable adjustments to their stakes in HubSpot. For instance, Wilmington Savings Fund Society FSB acquired a new position worth about $25,000 in the third quarter, while International Assets Investment Management LLC purchased shares valued at $35,000 in the second quarter. HM Payson & Co. increased its holdings by 36.0%, now owning 68 shares worth approximately $36,000. Similarly, Crewe Advisors LLC significantly raised its stake by 525%, acquiring 75 shares valued at around $44,000. Collectively, hedge funds and institutional investors own about 90.39% of HubSpot's shares.

Analyst Ratings and Price Targets

HubSpot has recently received various updates from research analysts regarding stock ratings and price targets. For example, Evercore ISI adjusted its target price for HubSpot shares from $610.00 to $700.00, maintaining an "in-line" rating. UBS Group upgraded HubSpot from a "hold" rating to a "strong-buy" rating. Meanwhile, Stifel Nicolaus increased its price target from $750.00 to $880.00, suggesting a strong bullish outlook. Wells Fargo also raised its target price from $625.00 to $750.00, indicating an “overweight” rating. Importantly, Bank of America lifted its target from $780.00 to $850.00 with a buy rating as well. Currently, analysts maintain a consensus rating for HubSpot of “Moderate Buy” with an average price target of approximately $702.23.

About HubSpot

HubSpot, Inc. is recognized for its cloud-based customer relationship management (CRM) platform that serves various businesses across the Americas, Europe, and Asia Pacific. Their offerings include the Marketing Hub for automation and analytics, the Sales Hub for managing customer interactions, the Service Hub for enhancing customer communication, and the Content Management Systems Hub, which allows businesses to manage their web content.

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