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Engle Capital Management L.P. acquired a new position in HubSpot, Inc. (NYSE:HUBS – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 25,000 shares of the software maker’s stock, valued at approximately $6,753,000. HubSpot comprises about 2.0% of Engle Capital Management L.P.’s holdings, making the stock its 17th largest holding. Engle Capital Management L.P. owned about 0.05% of HubSpot at the end of the most recent reporting period.
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Several other institutional investors and hedge funds have also made changes to their positions in HUBS. Trustcore Financial Services LLC raised its position in HubSpot by 66.1% in the third quarter. Trustcore Financial Services LLC now owns 98 shares of the software maker’s stock valued at $26,000 after purchasing an additional 39 shares during the period. Heritage Wealth Management LLC purchased a new stake in shares of HubSpot in the second quarter valued at about $46,000. Institutional & Family Asset Management LLC raised its holdings in shares of HubSpot by 28.8% in the second quarter. Institutional & Family Asset Management LLC now owns 161 shares of the software maker’s stock valued at $48,000 after buying an additional 36 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new stake in shares of HubSpot in the third quarter valued at about $49,000. Finally, Adalta Capital Management LLC purchased a new stake in shares of HubSpot in the second quarter valued at about $51,000. 90.87% of the stock is currently owned by institutional investors and hedge funds.
HubSpot Stock Up 11.0 %
HubSpot stock traded up $39.91 during midday trading on Friday, hitting $401.84. 1,539,487 shares of the stock were exchanged, compared to its average volume of 803,806. The firm has a market cap of $19.52 billion, a P/E ratio of -168.84 and a beta of 1.59. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.34 and a quick ratio of 2.34. HubSpot, Inc. has a 1 year low of $245.03 and a 1 year high of $546.95. The company has a 50 day moving average price of $320.12 and a two-hundred day moving average price of $309.08.
Insiders Place Their Bets
In other HubSpot news, CTO Dharmesh Shah sold 30,000 shares of the firm’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $285.88, for a total transaction of $8,576,400.00. Following the completion of the transaction, the chief technology officer now directly owns 1,479,416 shares of the company’s stock, valued at approximately $422,935,446.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $309.80, for a total value of $2,633,300.00. Following the completion of the transaction, the insider now directly owns 634,350 shares of the company’s stock, valued at approximately $196,521,630. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Dharmesh Shah sold 30,000 shares of HubSpot stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $285.88, for a total transaction of $8,576,400.00. Following the completion of the transaction, the chief technology officer now directly owns 1,479,416 shares of the company’s stock, valued at $422,935,446.08. The disclosure for this sale can be found here. Insiders sold a total of 58,809 shares of company stock valued at $17,779,233 in the last ninety days. Corporate insiders own 5.60% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on HUBS shares. Wells Fargo & Company reduced their target price on shares of HubSpot from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Monday, October 31st. UBS Group increased their price target on shares of HubSpot from $385.00 to $430.00 in a report on Friday. Credit Suisse Group assumed coverage on shares of HubSpot in a report on Monday, November 21st. They set an “outperform” rating and a $400.00 price target for the company. Cowen dropped their target price on shares of HubSpot from $390.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. Finally, BMO Capital Markets dropped their target price on shares of HubSpot from $410.00 to $335.00 and set an “outperform” rating for the company in a report on Monday, October 31st. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, HubSpot currently has a consensus rating of “Moderate Buy” and an average target price of $392.59.
HubSpot Company Profile
HubSpot, Inc develops Internet marketing software solutions. The firm operates through the following geographical segments: Americas, Europe and Asia Pacific. The company was founded by Brian Patrick Halligan and Dharmesh Shah on April 4, 2005, and is headquartered in Cambridge, MA.
Further Reading
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