Oddo BHF Asset Management Sas Takes a Stake in HubSpot, Inc.

Oddo BHF Asset Management Sas has recently made an important investment by acquiring a new position in HubSpot, Inc. (NYSE:HUBS - Free Report) during the third quarter of this year. According to a recent filing with the Securities and Exchange Commission (SEC), the institutional investor purchased 1,392 shares of HubSpot's stock, valued at around $740,000.

Investment Trends in HubSpot Shares

Alongside Oddo BHF, other institutional investors have also made noteworthy adjustments to their positions in HubSpot. For instance, Wellington Management Group LLP has increased its stake in HubSpot by an impressive 52.2% during the third quarter. Following this adjustment, they now hold 1,402,200 shares of HubSpot, which is valued at approximately $745.41 million after purchasing an additional 480,796 shares.

In similar moves, Geode Capital Management LLC raised its holdings in HubSpot by 2.5%, acquiring an additional 19,974 shares to reach a total of 820,483 shares valued at about $435.18 million. Additionally, Massachusetts Financial Services Co. MA boosted its investment in HubSpot by 17.9%, now owning 571,274 shares worth approximately $303.69 million after acquiring 86,688 shares. Meanwhile, UBS, through its asset management unit, increased its position by 8.2%, bringing its total to 527,061 shares, valued at $280.19 million after buying 40,138 more shares. Holocene Advisors LP also expanded its stake by 17.5%, owning 319,767 shares after adding 47,736 shares.

Overall, hedge funds and institutional investors collectively hold 90.39% of HubSpot’s stock.

Insider Activity at HubSpot

In addition to institutional investments, there have been some insider transactions at HubSpot. CEO Yamini Rangan recently sold 1,507 shares on October 2nd at an average price of $525.84 per share, totaling around $792,440.88. After this sale, Rangan retains ownership of 62,668 shares, valued at $32,953,341.12, which marks a 2.35% decrease in their holdings. This transaction was officially disclosed to the SEC.

Furthermore, CFO Kathryn Bueker sold 1,804 shares on October 10th for an average of $550.00 each, amounting to $992,200.00. Following the sale, she holds 41,259 shares valued at approximately $22,692,450, reflecting a 4.19% reduction in her stake. In total, insiders have sold 44,390 shares over the past three months for about $29.13 million, with insiders now owning 4.50% of HubSpot’s stock.

Market Analysts' Ratings

Recently, several analysts have upgraded their outlook on HubSpot. Canaccord Genuity Group raised its target price from $600.00 to $710.00, maintaining a "buy" rating. JPMorgan Chase & Co. increased its target from $560.00 to $635.00, rating HubSpot as "overweight." Truist Financial reaffirmed a “buy” rating and set a new target of $750.00, up from $600.00. Barclays also raised its price target from $500.00 to $650.00 while maintaining an “equal weight” rating. Lastly, Mizuho increased its target price from $725.00 to $775.00, giving it an “outperform” rating. As it stands, five analysts have given HubSpot a hold rating while eighteen have assigned a buy rating. According to MarketBeat.com, the average analyst rating for HubSpot is "Moderate Buy," with a consensus price target of $689.95.

HubSpot Stock Performance

As of the latest trading day, HubSpot shares were priced at $721.86. The 50-day moving average price stands at $637.78, while the 200-day average is $564.70. HubSpot has experienced a 52-week low of $434.84 and a high of $762.47, with a market capitalisation of $37.26 billion. Its P/E ratio is noted at -2,673.46, alongside a P/E/G ratio of 88.26 and a beta of 1.70.

HubSpot recently reported its quarterly earnings on November 6th, showing earnings of $2.18 per share, exceeding analysts' expectations of $1.91. The company reported revenues of $669.72 million for the quarter, surpassing the estimated $646.97 million. Year over year, HubSpot's revenue increased by 20.1%, reflecting strong growth despite a negative net margin of 0.56% and a negative return on equity of 1.16%. Analysts are projecting an earnings per share figure of 0.4 for the current year.

About HubSpot

HubSpot, Inc. operates in the field of customer relationship management (CRM) by providing a cloud-based platform that serves businesses in regions including the Americas, Europe, and the Asia Pacific. The firm offers various services through its CRM solution, including Marketing Hub for marketing automation, Sales Hub for sales management, Service Hub for customer service and relationship management, and a Content Management System for web content creation and management.

Investment, Stocks, HubSpot