Is it a Good Move to Acquire HubSpot (HUBS) Shares?

ClearBridge Investments, an investment management company, released its “ClearBridge All Cap Growth Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund outperformed the Russell 3000 Growth benchmark index. Steadily growing and high free-cash-flow generating companies in the portfolio enabled the fund to outperform during the quarter. To know about the fund’s best picks in 2022, please check its top 5 holdings.

In the Q2 2022 investor letter, ClearBridge Investments discussed the performance of ClearBridge All Cap Growth Strategy. The letter mentioned various stocks like HubSpot, Inc. (NYSE:HUBS). HubSpot, Inc. (NYSE:HUBS) is a company that provides a cloud-based customer relationship management platform for businesses. It is headquartered in Cambridge, Massachusetts, and has a market capitalization of $16.728 billion. The stock of HubSpot, Inc. (NYSE:HUBS) closed at $350.18 per share on August 3, 2022. One-month return of HubSpot, Inc. (NYSE:HUBS) was 10.72% and its shares lost 46.94% of their value over the last 52 weeks.

Here is what ClearBridge All Cap Growth Strategy specifically said about HubSpot, Inc. (NYSE:HUBS) in its second-quarter investor letter:

“The severity of the current selloff, exacerbated by extreme negative investor sentiment, especially toward growth stocks, has compressed the multiples of a number of portfolio companies despite strong fundamentals and led us to add to several existing positions. One example is cybersecurity software provider, CrowdStrike (CRWD), which continues to execute well against a robust demand environment for its endpoint security solutions with quarterly results and forward guidance outperforming expectations. We similarly added to disruptive growth companies HubSpot, Inc. (NYSE:HUBS) and Doximity (DOCS) during the quarter.”

HubSpot, Inc. (NYSE:HUBS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 51 hedge fund portfolios held HubSpot, Inc. (NYSE:HUBS) at the end of the first quarter which was up from 58 in the previous quarter.

We discussed HubSpot, Inc. (NYSE:HUBS) in another article that shared ClearBrigde Investment’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.