In a surprising turn of events, the Arizona State Retirement System has increased its stake in HubSpot, Inc. 3.9% during the first quarter of this year. This move shows the state retirement system’s confidence in the software maker’s potential for growth and success.
According to its most recent 13F filing with the Securities and Exchange Commission (SEC), Arizona State Retirement System now owns 13,416 shares of HubSpot, Inc., a substantial investment valued at $5,752,000. This increase in holdings occurs as a result of the purchase of 504 additional shares during the quarter.
Headquartered in America but with operations spanning Europe and the Asia Pacific region, HubSpot, Inc. provides a cloud-based customer relationship management (CRM) platform for businesses. Its CRM platform offers various applications and integrated systems that cater to different aspects of business operations, such as marketing, sales, service, content management, search engine optimization, blogging, chatbots, social media management, marketing automation for email, knowledge base management and more. .
This positive development for HubSpot is supported by a number of equities analysts that have recently shared their ratings on the company’s stock performance. KeyCorp raised their price target on HubSpot from $450.00 to $485.00 and gave the stock an “overweight” rating in a research report on April 20th.
Meanwhile, TheStreet upgraded their rating on HubSpot from a “d+” rating to a “c-” rating in another research report published on May 5th. StockNews.com also covered HubSpot in a research report on May 18 and labeled it with a “hold” rating.
Morgan Stanley joined in with favorable expectations raising their target price on HubSpot from $447.00 to $466.00, maintaining an “overweight” rating in a report published on March 21st.
Continuing this wave of support, 888 reiterated a “hold” rating on shares of HubSpot in a report on May 4th. Taken together, these pieces of analysis demonstrate an overwhelmingly positive outlook for HubSpot stock.
Overall, four equities research analysts have rated HubSpot with a hold rating, sixteen have issued a buy rating and one analyst has assigned a strong buy rating to the company’s stock. Based on data from Bloomberg, there is currently a consensus among analysts that HubSpot presents a “Moderate Buy” opportunity with an average target price of $424.81.
With this endorsement from multiple industry experts, it’s becoming increasingly clear why the Arizona State Retirement System has decided to increase its stake in HubSpot. This decision signifies their faith in the company’s ability to deliver long-term growth and profitability.
As we move into 2023, it will be interesting to watch how HubSpot continues to leverage its cloud-based CRM platform and integrated applications. With an expanding customer base and numerous positive ratings from equity analysts, HubSpot looks poised for continued success in the digital marketplace.
HubSpot, Inc.
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Updated on: 07/17/2023
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Institutional investors and experts show confidence in HubSpot’s growth potential
HubSpot, Inc. has been making waves in the world of software makers, with recent changes in its positions attracting the attention of hedge funds and institutional investors. Valley National Advisers Inc., for example, grew its stake in shares of HubSpot by a staggering 1,100% during the first quarter of this year. This means their ownership of the software maker’s stock increased significantly as they bought an additional 66 shares, bringing their total to 72 shares valued at $30,000.
Machina Capital SAS, another major player in the investment world, also saw HubSpot’s potential and bought a new position in the company during the first quarter. Its acquisition was worth about $34,000. These movements of Valley National Advisers Inc. and Machina Capital SAS indicate growing interest in HubSpot and its future prospects.
Lindbrook Capital LLC also joined the bandwagon, growing its position in HubSpot by an impressive 253.6% during the fourth quarter of last year. They acquired an additional 71 shares, increasing their ownership to 99 shares valued at $29,000.
Armstrong Advisory Group Inc. also recognized HubSpot’s potential early on and bought a new position in the company worth about $29,000 during the fourth quarter.
Finally, Allworth Financial LP saw value in HubSpot and grew its position by 34.2% during the first quarter. They purchased an additional 26 shares, for a total of 102 shares valued at $44,000.
All of these investments indicate a high level of confidence from institutional investors toward HubSpot’s growth potential and market performance.
In other HubSpot-related news, CFO Kathryn Bueker made headlines when she sold 300 shares of the company’s stock on July 13th for an average price of $550 per share. The transaction had a total value of $165,000. Following the completion of the sale, Bueker now owns 38,024 shares valued at approximately $20,913,200.
Another notable figure at HubSpot, CEO Yamini Rangan, also made headlines. On July 5, Rangan sold 3,136 shares of the company’s stock at an average price of $519.62 per share. This resulted in a total transaction value of $1,629,528.32. After the transaction, Rangan held 57,519 shares valued at approximately $29,888,022.78.
These insider sales have attracted the attention of both market watchers and investors. Disclosures for both transactions have been required by the Securities & Exchange Commission and are available on its website.
It’s worth noting that this insider activity shows a level of confidence from CFO Kathryn Bueker and CEO Yamini Rangan in HubSpot’s future prospects.
HubSpot is known for its cloud-based customer relationship management (CRM) platform that serves companies in various regions, including the Americas, Europe, and Asia Pacific. Its CRM platform includes marketing, sales, service and content management systems along with other integrated applications such as search engine optimization, blogging services and more.
In terms of financial performance on the stock market, HubSpot (NYSE:HUBS) opened at $555.36 on July 17th with a 50 day moving average of $507.18 and a 200 day moving average of 422, 69 dollars
Regarding earnings results from HubSpot’s latest quarterly report released on May 3rd earlier this year; they posted EPS of ($0.24), beating analysts’ consensus estimates of $0.16, which was estimated at ($0.40). The company reported total revenue of $501.62 million compared to analysts’ expectations of $474.55 million.
All eyes are on HubSpot, as research analysts forecast that it will post -1.83 earnings per share for the current fiscal year.
The overall market sentiment seems positive towards HubSpot, as evidenced by the increased participation of institutional investors in the company and the confidence shown by top insiders through its stock transactions. These developments could signal further growth and success for HubSpot as it continues to innovate within the CRM industry.
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