Sequoia Financial Advisors Increases Stake in HubSpot by 5.2%

Sequoia Financial Advisors LLC has increased its stake in HubSpot, Inc. (NYSE:HUBS) by 5.2% during the second quarter, as detailed in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor now holds 985 shares of the software company after acquiring an additional 49 shares in the quarter, bringing the total value of its holdings to approximately $548,000.

Several other institutional investors have also adjusted their positions in HubSpot. For instance, Venturi Wealth Management LLC raised its stake by 1.1% in the first quarter, now owning 1,507 shares worth around $861,000. Similarly, WCM Investment Management LLC increased its holdings by 0.6%, owning 2,668 shares valued at $1.55 million after purchasing 17 additional shares. Other notable increases include Ballentine Partners LLC, which lifted its position by 3.5%, and Apollon Wealth Management LLC, which also raised its stake by 5.2%.

As of now, approximately 90.39% of HubSpot’s stock is owned by hedge funds and institutional investors.

Recent Stock Performance and Insider Transactions

HubSpot’s shares opened at $437.15 on Monday. The company has a market capitalization of $23.03 billion, with a price-to-earnings (P/E) ratio of -1,900.67 and a P/E/G ratio of 15.07. Its stock has experienced a 12-month low of $418.34 and a high of $881.13.

In related news, Chief Financial Officer Kathryn Bueker sold 615 shares on October 6, 2023, at an average price of $500.00, resulting in a total transaction value of $307,500.00. Post-sale, Bueker retains ownership of 38,794 shares, valued at approximately $19.4 million, reflecting a decrease of 1.56% in her ownership.

Similarly, Chief Executive Officer Yamini Rangan sold 2,387 shares on the same day for a total of $1.19 million, reducing her holdings by 4.07% to 56,277 shares valued around $28.1 million. Over the last ninety days, insiders have sold a total of 42,598 shares worth approximately $20.95 million, with corporate insiders owning about 4.00% of the stock.

Analyst Ratings and Market Outlook

Equities analysts have been actively assessing HubSpot’s performance and potential. On September 3, 2023, Sanford C. Bernstein upgraded the company from a “market perform” rating to an “outperform” rating, establishing a target price of $606.00. Canaccord Genuity Group lowered its target from $765.00 to $700.00, maintaining a “buy” rating.

Cantor Fitzgerald reiterated an “overweight” rating with a target price of $775.00, while UBS Group restated an “outperform” rating during the same period. Truist Financial adjusted its price target from $720.00 to $675.00, still advocating for a “buy” rating.

Overall, the consensus rating for HubSpot stands at “Moderate Buy,” with an average target price of $723.11, according to MarketBeat.com. This reflects a strong confidence among analysts in HubSpot’s growth trajectory and market positioning.

HubSpot, Inc. provides a cloud-based customer relationship management (CRM) platform, catering to businesses across the Americas, Europe, and the Asia Pacific. Its offerings include a suite of tools for marketing automation, sales enablement, and customer service, helping organizations efficiently manage their customer interactions and drive growth.

For further insights into HubSpot and its market activities, visit HoldingsChannel.com for the latest 13F filings and insider trades related to HubSpot, Inc.