HUBS HubSpot, Inc. Common Stock
$233.50
Price · Aug 21, 2026
Fundamentals as of Aug 5, 2026
52W Range
$170–$526
18% of range
Analyst Rating
BUY
42 analysts
Price Target
$243
+4% upside
P/E (TTM)
271.5
ROE
2.2%
Net Profit Margin
1.5%
About HubSpot, Inc. Common Stock Company overview from Wikipedia
HubSpot, Inc. is a US customer relationship management firm and data broker. It is headquartered in Cambridge, Massachusetts.
Read more
HubSpot, Inc. is a US customer relationship management firm and data broker. It is headquartered in Cambridge, Massachusetts.
As of 2024, HubSpot is an unregistered data broker. Data broker are companies that collects and sells personal data, both public and private, through various means of data and web scraping. The company claims to provide tools for social media marketing and search engine optimization.
In 2010, an article in the Harvard Business Review said that HubSpot's most effective inbound marketing feature was its free online tools. One such tool, the Marketing Grader, assessed and scored website performance. The company introduced a Twitter tracking feature in 2011.
History
In 2010, HubSpot acquired Oneforty, the Twitter app store founded by Laura Fitton. The company also introduced new software for personalizing websites for each visitor. According to Forbes, HubSpot started out targeting small companies but "moved steadily upmarket to serve larger businesses of up to 1000 employees."
HubSpot filed for an IPO with the Securities and Exchange Commission on August 25, 2014, requesting to be listed on the New York Stock Exchange under the ticker symbol HUBS.
In July 2017, HubSpot acquired Kemvi, which applies artificial intelligence and machine learning to help sales teams.
On January 31, 2023, HubSpot announced the first layoffs in the company's history. Affecting approximately 500 employees, this layoff eliminated 7% of its total workforce. On the same day, HubSpot also announced plans to restructure its Cambridge campus, centralizing operations within a nearby office the company had already been leasing.
Hubspot announced its acquisition of B2B intelligence firm Clearbit in November 2023. Later that year in September, HubSpot announced the launch of HubSpot AI, an AI-powered service for marketing, sales and service departments, and the relaunch of Sales Hub.
In April 2024, Reuters reported that Google was considering a bid to acquire HubSpot. The report led to shares of the company spiking by 5%. This news garnered a mixed response from industry leaders and users, 48% said they would be triggered to consider alternative software. In July, it was reported that Google had given up on its effort to acquire the company.
In December, 2024, HubSpot acquired Frame AI.
In November 2025, the company acquired XFunnel, an Israeli startup developing tools for AI-driven search and "answer engine" optimization.
In February 2026, HubSpot acquired the creator-led entrepreneurship publication Starter Story.
Controversy
In July 2015, HubSpot's CMO, Mike Volpe, was dismissed for violating HubSpot's code of business conduct. It was found that he tried to obtain a draft copy of the book Disrupted: My Misadventure in the Start Up Bubble, written by his former employee Daniel Lyons. According to an article in The Boston Globe, records obtained under the Freedom of Information Act indicated that HubSpot executives considered the book "a financial threat to HubSpot" and Volpe used "tactics such as email hacking and extortion" in the attempt to prevent the book from being published.
In April 2016, after his book was published, Lyons wrote in The New York Times that HubSpot had a "frat house" atmosphere. He also called the company a "digital sweatshop" in which workers had little job security. Later that month, HubSpot's founders gave an official response to the book, in which they addressed several, but not all, of Lyons' claims.
In March 2026, HubSpot amended its bylaws to designate U.S. federal courts as the exclusive forum for securities law claims. The change was intended to streamline litigation, reduce the risk of parallel proceedings in multiple jurisdictions, and provide greater procedural consistency.
Reception
The Boston Business Journal named HubSpot a "Best Place to Work in 2012". In 2015, the company was named the best large company to work for in Massachusetts by The Boston Globe. In 2017, HubSpot was named seventh by CNBC as one of the best places to work. Glassdoor named HubSpot the best place to work in 2020 and the #2 best place to work in 2022. By July 2026, HubSpot's overall employee rating on Glassdoor had declined to 3.4 out of 5, based on employee reviews submitted to the platform. In 2024, HubSpot was listed among the top marketing & digital advertising software products by G2, a platform that ranks software products based on user reviews and ratings.
In January 2026, PCMag named HubSpot Marketing Hub its Best Overall email marketing software and awarded it an Editors’ Choice distinction, highlighting its integrated CRM and marketing automation features while noting its pricing complexity and learning curve.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
HUBS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$233.50
Market Cap
$12.27B
P/E (TTM)
271.5
EPS (TTM)
$0.86
Revenue (TTM)
$3.13B
Div Yield
—
ROE
2.2%
Debt/Equity
—
52W Range
$170 – $526
HUBS Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$3.13B
2016-12-31
→
2025-12-31
EPS
$0.86
2020-12-31
→
2025-12-31
Free Cash Flow
$708M
2016-12-31
→
2025-12-31
Margins
1.5%
2016-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
HUBS
Peer Median
P/E (TTM)
271.5
83.3
P/S (TTM)
3.9
8.6
P/B
5.9
8.2
Price / FCF
17.3
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
HUBS
Peer Median
Gross Margin
83.8%
75.1%
Operating Margin
0.24%
—
Net Profit Margin
1.5%
-11.1%
ROA
1.2%
-3.6%
ROE
2.2%
-5.1%
ROIC
0.24%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
HUBS
Peer Median
Current Ratio
1.7
1.5
Quick Ratio
0.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
HUBS
Peer Median
Revenue YoY
19.2%
—
Revenue CAGR 3Y
21.9%
—
Revenue CAGR 5Y
28.8%
—
EPS YoY
855.6%
—
Net Income YoY
892.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
HUBS
Peer Median
HUBS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
42 analysts
- Strong Buy 11 26.2%
- Buy 19 45.2%
- Hold 11 26.2%
- Sell 1 2.4%
- Strong Sell 0 0.0%
12-Month Price Target
31 analysts · 2026-08-21
Median
$240.00
Now
$233.50
Low
$190.00
High
$320.00
Median target
$240.00
+2.8%
Mean target
$242.61
+3.9%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.08%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $3.26 | $3.08 | 0.18% |
| March 31, 2026 | $2.72 | $2.52 | 0.20% |
| Dec. 31, 2025 | $3.09 | $3.05 | 0.04% |
| Sept. 30, 2025 | $2.66 | $2.64 | 0.02% |
| June 30, 2025 | $2.19 | $2.16 | 0.03% |
| March 31, 2025 | $1.78 | $1.79 | -0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| HUBS | $21.09B | 466.6 | 19.2% | 1.5% | 2.2% | 83.8% |
| DT | $10.90B | 68.5 | 18.8% | 8.1% | 6.0% | 81.6% |
| TRMB | $18.49B | 44.5 | -2.6% | 11.8% | 7.4% | 69.1% |
| BMNR | $10M | 3.3 | 84.1% | 5719.1% | 8.0% | — |
| AUR | — | — | — | — | — | — |
| MANH | $10.37B | 48.1 | 3.8% | 20.3% | 74.1% | — |
| DOCU | $10.45B | 35.7 | 8.2% | 9.6% | 15.8% | 79.4% |
| HUT | $5.06B | -21.5 | 44.8% | -96.2% | -18.9% | — |
| BSY | $11.54B | 44.9 | 11.0% | 18.5% | 24.9% | 81.5% |
| SAIL | $9.16B | -30.1 | 24.3% | -25.2% | -4.0% | 64.5% |
| PLTR | $425.03B | 282.1 | 56.2% | 36.3% | 26.2% | 82.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.13B | $2.63B | $2.17B | $1.73B | $1.30B | $883M | $675M | $513M | $376M | $271M | $182M | $116M | |
| Cost of Revenue | $508M | $393M | $338M | $308M | $259M | $167M | $130M | $100M | $76M | $62M | $48M | $35M | |
| Gross Profit | $2.62B | $2.23B | $1.83B | $1.42B | $1.04B | $716M | $545M | $413M | $300M | $209M | $134M | $81M | |
| R&D Expense | $906M | $779M | $618M | $442M | $302M | $206M | $158M | $118M | $70M | $46M | $32M | $26M | |
| SG&A Expense | $326M | $300M | $250M | $198M | $145M | $109M | $93M | $76M | $57M | $45M | $35M | $25M | |
| Operating Expenses | $2.62B | $2.30B | $2.03B | $1.53B | $1.10B | $767M | $592M | $461M | $340M | $254M | $180M | $129M | |
| Operating Income | $7M | $-68M | $-201M | $-103M | $-55M | $-51M | $-47M | $-48M | $-40M | $-45M | $-46M | $-49M | |
| Interest Expense | · | · | $4M | $4M | $30M | $37M | $23M | $21M | $13M | $265.0K | $185.0K | $322.0K | |
| Interest Income | $66M | $83M | $59M | $15M | $1M | $8M | $19M | $9M | $4M | $854.0K | $390.0K | $46.0K | |
| Other Non-op | $-3M | $17M | $-5M | $-7M | $10M | $-711.0K | $-393.0K | $-1M | $-559.0K | $-956.0K | $628.0K | $564.0K | |
| Pretax Income | $69M | $29M | $-151M | $-98M | $-74M | $-81M | $-51M | $-62M | $-50M | $-45M | $-46M | $-48M | |
| Income Tax | $24M | $24M | $14M | $9M | $4M | $4M | $3M | $2M | $-10M | $533.0K | $412.0K | $-92.0K | |
| Net Income | $46M | $5M | $-165M | $-107M | $-78M | $-85M | $-54M | $-64M | $-40M | $-46M | $-46M | $-48M | |
| EPS (Basic) | $0.88 | $0.09 | $-3.30 | $-2.23 | $-1.66 | $-1.90 | · | · | · | · | · | · | |
| EPS (Diluted) | $0.86 | $0.09 | $-3.30 | $-2.23 | $-1.66 | $-1.90 | · | · | · | · | · | · | |
| Shares (Basic) | 52,455,000 | 51,178,000 | 49,877,000 | 48,065,000 | 46,891,000 | 44,757,000 | 42,025,000 | 38,529,000 | 36,827,000 | 35,197,000 | 33,222,000 | 11,562,000 | |
| Shares (Diluted) | 53,194,000 | 51,819,000 | 49,877,000 | 48,065,000 | 46,891,000 | 44,757,000 | 42,025,000 | 38,529,000 | 36,827,000 | 35,197,000 | 33,222,000 | 11,562,000 | |
| EBITDA | $144M | $29M | $-135M | $-51M | $-10M | $-14M | $-18M | $-25M | $-24M | $-33M | $-39M | $6M |
Balance Sheet 24
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $882M | $513M | $388M | $331M | $377M | $378M | $270M | $111M | $88M | $60M | $56M | $124M | |
| Receivables | $419M | $335M | $295M | $227M | $157M | $126M | $93M | $77M | $61M | $39M | $25M | $14M | |
| Prepaid Expense | $101M | $81M | $89M | $44M | $38M | $35M | $24M | $14M | $19M | $8M | $5M | $4M | |
| Current Assets | $2.45B | $2.63B | $1.87B | $1.75B | $1.45B | $1.46B | $1.11B | $712M | $603M | $176M | $146M | $150M | |
| PP&E (Net) | $142M | $114M | $103M | $105M | $96M | $101M | $84M | $52M | $43M | $30M | $18M | $11M | |
| PP&E (Gross) | $318M | $261M | $249M | $218M | $183M | $169M | $133M | $87M | $66M | $43M | $25M | $16M | |
| Accum. Depreciation | $176M | $147M | $145M | $112M | $87M | $67M | $49M | $34M | $22M | $13M | $7M | $4M | |
| Goodwill | $291M | $210M | $174M | $46M | $47M | $31M | $30M | $15M | $15M | $10M | $10M | $9M | |
| Intangibles | $35M | $38M | $42M | $17M | $11M | $10M | $12M | $5M | $6M | $16.0K | $100.0K | $89.0K | |
| Other Non-current Assets | $166M | $115M | $75M | $59M | $29M | $14M | $10M | $7M | $5M | $950.0K | $1M | $116.0K | |
| Total Assets | $3.85B | $3.80B | $3.07B | $2.54B | $2.17B | $1.97B | $1.57B | $834M | $712M | $260M | $220M | $175M | |
| Accounts Payable | $25M | $4M | $9M | $21M | $3M | $14M | $13M | $8M | $5M | $4M | $3M | $3M | |
| Current Liabilities | $1.47B | $1.57B | $942M | $755M | $617M | $446M | $322M | $237M | $178M | $127M | $91M | $59M | |
| Capital Leases | $223M | $255M | $297M | $316M | $284M | $280M | $244M | · | · | $275.0K | $277.0K | $78.0K | |
| Other Non-current Liabilities | $89M | $56M | $36M | $19M | $12M | $11M | $9M | $5M | $4M | $2M | $10.0K | · | |
| Total Liabilities | $1.79B | $1.89B | $1.74B | $1.55B | $1.30B | $1.21B | $919M | $589M | $502M | $141M | $99M | $64M | |
| Common Stock | $53.0K | $52.0K | $50.0K | $49.0K | $47.0K | $46.0K | $44.0K | $40.0K | $38.0K | $36.0K | $34.0K | $32.0K | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | · | · | $265M | |
| Retained Earnings | $-754M | $-800M | $-804M | $-640M | $-561M | $-483M | $-398M | $-344M | $-286M | $-246M | $-200M | $-154M | |
| Treasury Stock | $2.0K | · | · | · | · | · | · | · | · | · | · | · | |
| AOCI | $5M | $-6M | $2M | $-13M | $-1M | $5M | $-336.0K | $-723.0K | $-57.0K | $-864.0K | $-805.0K | $-145.0K | |
| Stockholders' Equity | $2.07B | $1.91B | $1.33B | $995M | $871M | $763M | $650M | $245M | $210M | $119M | $122M | $111M | |
| Liabilities + Equity | $3.85B | $3.80B | $3.07B | $2.54B | $2.17B | $1.97B | $1.57B | $834M | $712M | $260M | $220M | $175M | |
| Shares Outstanding | 52,555,000 | 51,767,000 | 50,448,000 | 49,217,000 | 47,390,000 | 46,115,000 | 42,955,000 | 39,300,000 | 37,503,000 | 35,784,000 | 34,313,000 | 31,431,000 |
Cash Flow 19
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $136M | $97M | $73M | $58M | $45M | $37M | $29M | $23M | $16M | $11M | $7M | $6M | |
| Stock-based Comp | $528M | $505M | $432M | $276M | $167M | $121M | $98M | $76M | $47M | $33M | $21M | $16M | |
| Deferred Tax | $-2.0K | $3M | $550.0K | $-1M | $-3M | $-2M | $-799.0K | $36.0K | $-12M | $-141.0K | $-50.0K | $-124.0K | |
| Amort. of Intangibles | $12M | $10M | $5M | $3M | $1M | $3M | $3M | $1.4K | $103.0K | $84.0K | $96.0K | $138.0K | |
| Restructuring | $4M | $4M | $97M | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | $50M | $-10M | $17M | $54M | $108M | $18M | $47M | $49M | $38M | $21M | $17M | $30M | |
| Operating Cash Flow | $761M | $599M | $351M | $273M | $239M | $89M | $119M | $85M | $50M | $19M | $-423.0K | $-12M | |
| CapEx | $53M | $38M | $34M | $37M | $29M | $37M | $40M | $22M | $20M | $16M | $8M | $7M | |
| Investing Cash Flow | $492M | $-516M | $-335M | $-320M | $-180M | $-216M | $-316M | $-71M | $-397M | $-23M | · | · | |
| Debt Issued | · | · | · | · | · | $450M | · | · | $389M | · | · | · | |
| Net Debt Issued | $-460M | $-57.0K | $-13.0K | $-2M | $-90M | $214M | · | · | $389M | · | · | · | |
| Stock Issued | · | · | · | · | · | · | $343M | · | · | · | $34M | $131M | |
| Stock Repurchased | $500M | · | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | $-500M | · | · | · | · | · | $343M | · | · | · | $34M | · | |
| Financing Cash Flow | $-910M | $53M | $37M | $7M | $-51M | $222M | $359M | $13M | $377M | $8M | · | · | |
| Net Change in Cash | $368M | $125M | $58M | $-46M | $-1M | $103M | $161M | $24M | $33M | $4M | $-68M | $111M | |
| Taxes Paid | $19M | · | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $708M | $561M | $317M | $236M | $210M | $52M | $79M | $63M | $29M | $4M | $-9M | $-20M | |
| Levered FCF | · | · | $313M | $232M | $178M | $13M | $54M | $41M | $19M | $3M | $-9M | $-20M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.8% | 85.0% | 84.1% | 81.8% | 80.1% | 81.1% | 80.7% | · | 79.8% | 77.2% | 73.7% | 68.0% | |
| Operating Margin | 0.24% | -2.6% | -9.6% | -6.3% | -4.2% | -5.8% | -7.0% | · | -10.7% | -16.5% | -25.5% | · | |
| Net Margin | 1.5% | 0.18% | -8.1% | -6.5% | -6.0% | -9.6% | -8.0% | · | -10.6% | -16.8% | -25.3% | -41.6% | |
| Pretax Margin | 2.2% | 1.1% | -7.3% | -6.0% | -5.7% | -9.2% | -7.5% | · | -13.3% | -16.6% | -25.1% | -41.7% | |
| EBITDA Margin | 4.6% | 1.1% | -6.2% | -2.9% | -0.74% | -1.6% | -2.7% | · | -6.5% | -12.4% | -21.5% | 4.9% | |
| ROA | 1.2% | 0.13% | -6.3% | -4.8% | -3.8% | -4.8% | -4.5% | -8.3% | -8.2% | -19.0% | -23.3% | -42.8% | |
| ROE | 2.2% | 0.25% | -14.0% | -11.9% | -9.1% | -11.4% | -8.4% | -26.9% | -19.0% | -37.9% | -39.6% | -552.7% | |
| ROIC | 0.24% | -0.57% | -17.6% | -11.8% | -6.6% | -7.0% | -7.6% | -20.3% | -15.1% | -38.1% | -38.5% | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.7 | 1.7 | 2.0 | 2.3 | 2.4 | 3.3 | 3.4 | 3.0 | 3.4 | 1.4 | 1.6 | 2.5 | |
| Quick Ratio | 0.9 | 0.5 | 0.7 | 0.7 | 0.9 | 1.1 | 1.1 | 0.8 | 0.8 | 0.8 | 0.9 | 2.3 | |
| Interest Coverage | · | · | -54.7 | -29.0 | -1.8 | -1.4 | -2.1 | -2.3 | -3.0 | -168.5 | -251.2 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.8 | 0.8 | 0.8 | 0.7 | 0.6 | 0.5 | 0.6 | · | 0.8 | 1.1 | 0.9 | 1.0 | |
| Receivables Turnover | 8.3 | 8.3 | 8.3 | 9.0 | 9.2 | 8.1 | 8.0 | · | 7.5 | 8.5 | 9.2 | 10.8 |
Growth Rates 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 19.2% | 21.1% | 25.4% | 33.1% | 47.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 21.9% | 26.4% | 34.9% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 28.8% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 855.6% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 892.0% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.13B | $2.63B | $2.17B | $1.73B | $1.30B | $883M | $675M | $513M | $376M | $271M | $182M | $116M | |
| Net Income TTM | $46M | $5M | $-165M | $-107M | $-78M | $-85M | $-54M | $-64M | $-40M | $-46M | $-46M | $-48M | |
| Market Cap | $21.09B | $36.07B | $29.29B | $14.23B | $31.24B | $18.28B | $6.81B | $4.94B | $3.32B | $1.68B | $1.93B | $1.06B | |
| P/E | 466.6 | 7741.9 | -175.9 | -129.7 | -397.1 | -208.7 | · | · | · | · | · | · | |
| P/S | 6.7 | 13.7 | 13.5 | 8.2 | 24.0 | 20.7 | 10.1 | 9.6 | 8.8 | 6.2 | 10.6 | 9.1 | |
| P/B | 10.2 | 18.9 | 22.2 | 14.3 | 35.7 | 24.0 | 10.5 | 20.2 | 15.8 | 14.2 | 15.9 | 9.5 | |
| P / Tangible Book | 12.1 | 21.7 | 26.2 | 15.3 | 38.4 | 25.4 | · | · | · | · | · | · | |
| P / Cash Flow | 27.7 | 60.3 | 83.4 | 52.1 | 130.8 | 205.6 | 57.2 | 58.2 | 66.8 | 86.8 | -4567.8 | -84.8 | |
| P / FCF | 29.8 | 64.3 | 92.3 | 60.4 | 148.7 | 354.0 | 86.6 | 79.0 | 113.0 | 470.2 | -218.3 | -53.5 | |
| Earnings Yield | 0.21% | 0.01% | -0.57% | -0.77% | -0.25% | -0.48% | · | · | · | · | · | · |
Income Statement 18
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $912M | $881M | $847M | $810M | $761M | $714M | $703M | $670M | $637M | $617M | $582M | $558M | $529M | $502M | $470M | $444M | |
| Cost of Revenue | $161M | $146M | $138M | $134M | $122M | $115M | $103M | $99M | $96M | $95M | $87M | $86M | $85M | $80M | $74M | $82M | |
| Gross Profit | $751M | $735M | $709M | $676M | $639M | $599M | $600M | $570M | $542M | $522M | $494M | $472M | $444M | $421M | $396M | $362M | |
| R&D Expense | $226M | $234M | $221M | $228M | $237M | $220M | $214M | $191M | $198M | $176M | $163M | $157M | $170M | $128M | $116M | $114M | |
| SG&A Expense | $83M | $86M | $82M | $81M | $85M | $79M | $81M | $78M | $73M | $69M | $70M | $61M | $61M | $57M | $51M | $50M | |
| Operating Expenses | $708M | $707M | $661M | $665M | $663M | $627M | $611M | $580M | $566M | $546M | $518M | $490M | $560M | $464M | $403M | $394M | |
| Operating Income | $43M | $28M | $48M | $11M | $-25M | $-27M | $-11M | $-10M | $-24M | $-23M | $-23M | $-19M | $-116M | $-43M | $-7M | $-32M | |
| Interest Expense | · | · | · | · | · | · | · | · | $901.0K | $935.0K | · | $950.0K | $937.0K | $930.0K | · | $923.0K | |
| Interest Income | $9M | $13M | $13M | $14M | $18M | $21M | $22M | $22M | $20M | $19M | $19M | $16M | $14M | $10M | $8M | $5M | |
| Other Non-op | $-3M | $-1M | $303.0K | $-2M | $1M | $-2M | $3M | $-565.0K | $2M | $13M | $-3M | $-2M | $330.0K | $-794.0K | $-6M | $-1M | |
| Pretax Income | $50M | $39M | $62M | $23M | $-5M | $-10M | $13M | $11M | $-3M | $8M | $-8M | $-5M | $-103M | $-34M | $-7M | $-30M | |
| Income Tax | $6M | $7M | $7M | $7M | $-2M | $12M | $8M | $3M | $12M | $2M | $4M | $-1M | $9M | $2M | $4M | $2M | |
| Net Income | $43M | $33M | $54M | $17M | $-3M | $-22M | $5M | $8M | $-14M | $6M | $-12M | $-4M | $-112M | $-37M | $-10M | $-31M | |
| EPS (Basic) | $0.86 | $0.62 | $1.05 | $0.31 | $-0.06 | $-0.42 | $0.09 | $0.16 | $-0.28 | $0.12 | $-0.24 | $-0.07 | $-2.25 | $-0.74 | $-0.20 | $-0.65 | |
| EPS (Diluted) | $0.86 | $0.62 | $1.03 | $0.31 | $-0.06 | $-0.42 | $0.09 | $0.16 | $-0.28 | $0.12 | $-0.24 | $-0.07 | $-2.25 | $-0.74 | $-0.20 | $-0.65 | |
| Shares (Basic) | 50,569,000 | 52,490,000 | -104,902,000 | 52,507,000 | 52,696,000 | 52,154,000 | -101,870,000 | 51,354,000 | 51,005,000 | 50,689,000 | -99,272,000 | 50,051,000 | 49,703,000 | 49,395,000 | -95,394,000 | 48,067,000 | |
| Shares (Diluted) | 50,615,000 | 52,578,000 | -104,327,000 | 52,671,000 | 52,696,000 | 52,154,000 | -102,462,000 | 51,778,000 | 51,005,000 | 51,498,000 | -99,272,000 | 50,051,000 | 49,703,000 | 49,395,000 | -95,394,000 | 48,067,000 | |
| EBITDA | $43M | $68M | · | $11M | $-25M | $1M | · | $-10M | $-24M | $-2M | · | $-20M | $-118M | $-28M | · | $-32M |
Balance Sheet 23
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $958M | $944M | $882M | $614M | $601M | $625M | $513M | $410M | $798M | $448M | · | $536M | $457M | $325M | · | $332M | |
| Receivables | $378M | $355M | $419M | $315M | $321M | $295M | $335M | $279M | $270M | $267M | · | $212M | $207M | $198M | · | $167M | |
| Prepaid Expense | $162M | $156M | $101M | $110M | $130M | $109M | $81M | $87M | $111M | $92M | · | $79M | $90M | $63M | · | $45M | |
| Current Assets | $2.13B | $2.44B | $2.45B | $2.11B | $2.31B | $2.61B | $2.63B | $2.44B | $2.24B | $1.99B | · | $1.97B | $1.91B | $1.82B | · | $1.56B | |
| PP&E (Net) | $157M | $150M | $142M | $137M | $132M | $124M | $114M | $111M | $106M | $103M | · | $105M | $104M | $107M | · | $103M | |
| PP&E (Gross) | $348M | $334M | $318M | $304M | $292M | $278M | $261M | $278M | $264M | $255M | · | $242M | $236M | $224M | · | $205M | |
| Accum. Depreciation | $191M | $184M | $176M | $167M | $160M | $154M | $147M | $167M | $158M | $151M | · | $137M | $131M | $117M | · | $102M | |
| Goodwill | $319M | $300M | $291M | $275M | $275M | $255M | $210M | $174M | $174M | $174M | $174M | $46M | $46M | $46M | $46M | $45M | |
| Intangibles | $29M | $33M | $35M | $37M | $40M | $41M | $38M | $35M | $37M | $40M | · | $13M | $16M | $17M | · | $18M | |
| Other Non-current Assets | $177M | $178M | $166M | $157M | $144M | $126M | $115M | $112M | $94M | $88M | · | $71M | $66M | $66M | · | $56M | |
| Total Assets | $3.50B | $3.83B | $3.85B | $3.50B | $3.68B | $3.90B | $3.80B | $3.56B | $3.36B | $3.19B | · | $2.82B | $2.73B | $2.64B | $2.54B | $2.30B | |
| Accounts Payable | $26M | $53M | $25M | $25M | $13M | $22M | $4M | $5M | $4M | $8M | · | $17M | $3M | $3M | · | $13M | |
| Current Liabilities | $1.54B | $1.52B | $1.47B | $1.32B | $1.29B | $1.58B | $1.57B | $1.49B | $1.44B | $960M | · | $839M | $847M | $810M | $755M | $668M | |
| Capital Leases | $199M | $210M | $223M | $233M | $243M | $250M | $255M | $266M | $273M | $284M | · | $302M | $314M | $309M | · | $251M | |
| Other Non-current Liabilities | $99M | $97M | $89M | $91M | $83M | $61M | $56M | $47M | $40M | $38M | · | $29M | $26M | $18M | $19M | $12M | |
| Total Liabilities | $1.85B | $1.83B | $1.79B | $1.65B | $1.62B | $1.89B | $1.89B | $1.81B | $1.76B | $1.74B | · | $1.63B | $1.65B | $1.60B | $1.55B | $1.39B | |
| Common Stock | $50.0K | $52.0K | $53.0K | $52.0K | $53.0K | $52.0K | $52.0K | $51.0K | $51.0K | $51.0K | · | $50.0K | $50.0K | $49.0K | · | $48.0K | |
| Retained Earnings | $-678M | $-721M | $-754M | $-808M | $-825M | $-822M | $-800M | $-805M | $-813M | $-799M | · | $-805M | $-800M | $-681M | $-640M | $-627M | |
| Treasury Stock | $6.0K | $3.0K | $2.0K | $2.0K | $1.0K | · | · | · | · | · | · | · | · | · | · | · | |
| AOCI | $165.0K | $2M | $5M | $6M | $5M | $-3M | $-6M | $6M | $-5M | $-3M | · | $-9M | $-8M | $-8M | · | $-18M | |
| Stockholders' Equity | $1.66B | $2.00B | $2.07B | $1.86B | $2.07B | $2.00B | $1.91B | $1.75B | $1.60B | $1.45B | $1.33B | $1.19B | $1.08B | $1.05B | $995M | $907M | |
| Liabilities + Equity | $3.50B | $3.83B | $3.85B | $3.50B | $3.68B | $3.90B | $3.80B | $3.56B | $3.36B | $3.19B | · | $2.82B | $2.73B | $2.64B | · | $2.30B | |
| Shares Outstanding | 49,658,000 | 51,954,000 | 52,555,000 | 52,217,000 | 52,701,000 | 52,282,000 | 51,767,000 | · | · | · | · | · | · | · | · | · |
Cash Flow 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $44M | $40M | $39M | $36M | $33M | $29M | $28M | $25M | $22M | $21M | $19M | $21M | $16M | $17M | $16M | $16M | |
| Stock-based Comp | $128M | $116M | $132M | $138M | $141M | $117M | $134M | $130M | $129M | $111M | $114M | $108M | $128M | $83M | $77M | $72M | |
| Deferred Tax | $-2M | $-73.0K | $268.0K | $-56.0K | $121.0K | $-335.0K | $3M | $-399.0K | $-45.0K | $-167.0K | $-4M | $141.0K | $5M | $47.0K | $-696.0K | $-191.0K | |
| Amort. of Intangibles | · | · | · | · | · | · | · | · | · | · | $4M | $400.0K | $400.0K | · | $2M | $400.0K | |
| Restructuring | $1M | $1M | $814.0K | $1M | $1M | $1M | $1M | $987.0K | $1M | $782.0K | $4M | $846.0K | $64M | $29M | · | · | |
| Other Non-cash | · | $10M | · | · | · | $38M | · | · | · | $-11M | · | · | · | $20M | · | · | |
| Operating Cash Flow | $223M | $199M | $247M | $187M | $164M | $162M | $194M | $160M | $118M | $127M | $104M | $89M | $77M | $81M | $90M | $60M | |
| CapEx | $20M | $15M | $13M | $10M | $16M | $13M | $13M | $11M | $8M | $6M | $9M | $11M | $11M | $3M | $6M | $13M | |
| Investing Cash Flow | $326M | $65M | $30M | $170M | $269M | $23M | $-86M | $-569M | $213M | $-74M | $-266M | $-15M | $45M | $-99M | $-109M | $-35M | |
| Net Debt Issued | · | · | · | · | · | $-91M | · | · | · | · | · | · | · | · | · | · | |
| Stock Repurchased | $536M | $207M | $15M | $360M | · | · | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-207M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-531M | $-196M | $-9M | $-341M | $-480M | $-80M | $10M | $12M | $21M | $11M | $7M | $10M | $10M | $10M | $9M | $8M | |
| Net Change in Cash | $14M | $62M | $268M | $13M | $-25M | $112M | $103M | $-388M | $350M | $60M | $-147M | $78M | $132M | $-6M | $-513.0K | $26M | |
| Free Cash Flow | · | $183M | · | · | · | $148M | · | · | · | $121M | · | · | · | $78M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $120M | · | · | · | $77M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.3% | 83.5% | · | 83.5% | 83.9% | 83.9% | · | 85.2% | 85.0% | 84.6% | · | 84.3% | 83.5% | 83.6% | · | 81.5% | |
| Operating Margin | 4.8% | 3.2% | · | 1.4% | -3.2% | -3.9% | · | -1.4% | -3.8% | -3.8% | · | -3.7% | -22.4% | -8.9% | · | -7.3% | |
| Net Margin | 4.8% | 3.7% | · | 2.0% | -0.43% | -3.0% | · | 1.2% | -2.3% | 0.96% | · | -0.98% | -22.5% | -7.6% | · | -7.1% | |
| Pretax Margin | 5.4% | 4.5% | · | 2.9% | -0.72% | -1.4% | · | 1.6% | -0.42% | 1.2% | · | -1.2% | -20.0% | -7.2% | · | -6.7% | |
| EBITDA Margin | 4.8% | 7.7% | · | 1.4% | -3.2% | 0.19% | · | -1.4% | -3.8% | -0.32% | · | -3.7% | -22.4% | -5.6% | · | -7.3% | |
| ROA | 1.2% | 0.84% | · | 0.47% | -0.09% | -0.61% | · | 0.26% | -0.47% | 0.20% | · | -0.21% | -4.8% | -1.6% | · | -1.4% | |
| ROE | 2.3% | 1.6% | · | 0.92% | -0.18% | -1.3% | · | 0.55% | -1.1% | 0.48% | · | -0.52% | -12.2% | -4.1% | · | -3.6% | |
| ROIC | 2.3% | 1.2% | · | 0.43% | -0.71% | -3.0% | · | -0.42% | -8.1% | -1.2% | · | -1.4% | -12.3% | -4.5% | · | -3.8% |
Liquidity & Solvency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.4 | 1.6 | · | 1.6 | 1.8 | 1.7 | · | 1.6 | 1.6 | 2.1 | · | 2.4 | 2.3 | 2.2 | · | 2.3 | |
| Quick Ratio | 0.9 | 0.9 | · | 0.7 | 0.7 | 0.6 | · | 0.5 | 0.7 | 0.7 | · | 0.9 | 0.8 | 0.6 | · | 0.7 | |
| Interest Coverage | · | · | · | · | · | · | · | · | -26.6 | -24.8 | · | -21.5 | -126.5 | -48.1 | · | -34.9 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Receivables Turnover | 2.6 | 2.7 | · | 2.7 | 2.6 | 2.5 | · | 2.7 | 2.7 | 2.7 | · | 2.9 | 2.8 | 2.9 | · | 3.0 |
Valuation (TTM) 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.36B | $3.17B | · | $2.95B | $2.78B | $2.64B | · | $2.48B | $2.34B | $2.21B | · | $2.03B | $1.90B | $1.76B | · | $1.60B | |
| Net Income TTM | $89M | $24M | · | $-369.0K | $-31M | $-22M | · | $-4M | $-124M | $-146M | · | $-184M | $-236M | $-134M | · | $-111M | |
| Market Cap | $9.06B | $12.68B | · | $24.43B | $29.33B | $29.87B | · | · | · | · | · | · | · | · | · | · | |
| P/E | 105.5 | 542.4 | · | -46780.0 | -927.7 | -1360.2 | · | -7594.3 | -237.8 | -213.1 | · | -132.7 | -110.4 | -154.8 | · | -116.4 | |
| P/S | 2.7 | 4.0 | · | 8.3 | 10.5 | 11.3 | · | · | · | · | · | · | · | · | · | · | |
| P/B | 5.5 | 6.4 | · | 13.2 | 14.2 | 14.9 | · | · | · | · | · | · | · | · | · | · | |
| P / Tangible Book | 6.9 | 7.6 | · | 15.8 | 16.8 | 17.5 | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | · | 63.8 | · | · | · | 184.9 | · | · | · | · | · | · | · | · | · | · | |
| P / FCF | · | 69.1 | · | · | · | 201.5 | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | 0.95% | 0.18% | · | 0.00% | -0.11% | -0.07% | · | -0.01% | -0.42% | -0.47% | · | -0.75% | -0.91% | -0.65% | · | -0.86% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $3.13B | $2.63B | $2.17B | $1.73B | $1.30B |
| Gross Margin % | 83.8% | 85.0% | 84.1% | 81.8% | 80.1% |
| Operating Margin % | 0.24% | -2.6% | -9.6% | -6.3% | -4.2% |
| Net Income | $46M | $5M | $-165M | $-107M | $-78M |
| Diluted EPS | $0.86 | $0.09 | $-3.30 | $-2.23 | $-1.66 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 1.7 | 1.7 | 2.0 | 2.3 | 2.4 |
| Quick Ratio | 0.9 | 0.5 | 0.7 | 0.7 | 0.9 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $708M | $561M | $317M | $236M | $210M |
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Institutional owners (13F) 691 filers · $6.4B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 100 (-29 vs prior Q) | 164 (+4 vs prior Q) | 227 (-53 vs prior Q) | 221 (+27 vs prior Q) | +7.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $458,346,854 | 2,511,352 | 7.19% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $406,368,371 | 2,226,554 | 6.37% | Shares |
| TWO SIGMA INVESTMENTS, LP | $332,121,477 | 1,819,744 | 5.21% | Shares |
| Pictet Asset Management Holding SA | $302,212,502 | 1,655,750 | 4.74% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $240,923,056 | 1,320,054 | 3.78% | Shares |
| FMR LLC | $232,452,766 | 1,273,644 | 3.64% | Shares |
| STATE OF MICHIGAN RETIREMENT SYSTEM | $216,983,766 | 1,188,887 | 3.40% | Shares |
| Qube Research & Technologies Ltd | $183,268,329 | 1,004,155 | 2.87% | Shares |
| STATE STREET CORP | $176,634,456 | 967,807 | 2.77% | Shares |
| TWO SIGMA ADVISERS, LP | $166,595,682 | 415,140 | 2.61% | Shares |
| Capital World Investors | $150,762,568 | 826,051 | 2.36% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $146,703,472 | 803,566 | 2.30% | Shares |
| VANGUARD GROUP INC | $130,310,136 | 324,720 | 2.04% | Shares |
| MILLENNIUM MANAGEMENT LLC | $105,744,651 | 579,391 | 1.66% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $96,572,611 | 529,136 | 1.51% | Shares |
| Squarepoint Ops LLC | $78,290,220 | 428,964 | 1.23% | Shares |
| FIRST TRUST ADVISORS LP | $69,421,923 | 380,373 | 1.09% | Shares |
| Spyglass Capital Management LLC | $67,777,826 | 371,365 | 1.06% | Shares |
| GOLDMAN SACHS GROUP INC | $66,981,170 | 367,000 | 1.05% | Put option |
| EDMOND DE ROTHSCHILD HOLDING S.A. | $64,616,205 | 354,042 | 1.01% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $62,144,655 | 340,500 | 0.97% | Call option |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $61,464,075 | 336,771 | 0.96% | Shares |
| RDST Capital LLC | $60,556,088 | 331,796 | 0.95% | Shares |
| Freestone Grove Partners LP | $60,272,285 | 330,241 | 0.95% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $59,827,691 | 327,805 | 0.94% | Shares |
| CIBC Private Wealth Group LLC | $59,792,793 | 127,817 | 0.94% | Shares |
| Robeco Institutional Asset Management B.V. | $58,779,538 | 322,062 | 0.92% | Shares |
| JANE STREET GROUP, LLC | $56,906,801 | 311,801 | 0.89% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $53,052,919 | 290,685 | 0.83% | Shares |
| AMERIPRISE FINANCIAL INC | $51,564,871 | 282,460 | 0.81% | Shares |
| JANE STREET GROUP, LLC | $50,829,035 | 278,500 | 0.80% | Put option |
| Point72 Asset Management, L.P. | $50,426,418 | 276,294 | 0.79% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $49,697,473 | 272,300 | 0.78% | Shares |
| GILDER GAGNON HOWE & CO LLC | $49,305,046 | 270,150 | 0.77% | Shares |
| Man Group plc | $48,499,660 | 265,737 | 0.76% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $47,719,612 | 261,463 | 0.75% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $47,616,859 | 260,900 | 0.75% | Put option |
| NORGES BANK | $45,955,288 | 251,796 | 0.72% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $45,775,881 | 250,813 | 0.72% | Shares |
| JANE STREET GROUP, LLC | $41,411,519 | 226,900 | 0.65% | Call option |
| Assenagon Asset Management S.A. | $41,396,553 | 226,818 | 0.65% | Shares |
| CITADEL ADVISORS LLC | $39,914,937 | 218,700 | 0.63% | Call option |
| WELLINGTON MANAGEMENT GROUP LLP | $38,960,045 | 213,468 | 0.61% | Shares |
| BANK OF AMERICA CORP /DE/ | $37,601,623 | 206,025 | 0.59% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $34,206,571 | 187,423 | 0.54% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $34,153,644 | 187,133 | 0.54% | Shares |
| ARMISTICE CAPITAL, LLC | $32,495,358 | 178,047 | 0.51% | Shares |
| Walleye Capital LLC | $27,631,101 | 151,395 | 0.43% | Shares |
| Kodai Capital Management LP | $26,822,066 | 46,950 | 0.42% | Shares |
| STIFEL FINANCIAL CORP | $26,502,272 | 145,205 | 0.42% | Shares |
| GOLDMAN SACHS GROUP INC | $25,407,157 | 139,210 | 0.40% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $21,963,071 | 120,339 | 0.34% | Shares |
| BlackRock, Inc. | $20,173,743 | 110,535 | 0.32% | Shares |
| Fiera Capital Corp | $18,840,690 | 103,231 | 0.30% | Shares |
| Swiss National Bank | $18,365,069 | 100,625 | 0.29% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $18,251,000 | 100,000 | 0.29% | Shares |
| BANK OF NOVA SCOTIA | $17,834,694 | 97,719 | 0.28% | Shares |
| WOLVERINE TRADING, LLC | $17,675,920 | 34,000 | 0.28% | Call option |
| California Public Employees Retirement System | $17,163,058 | 94,039 | 0.27% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $15,834,568 | 86,760 | 0.25% | Shares |
| WOLVERINE TRADING, LLC | $15,700,376 | 30,200 | 0.25% | Put option |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $15,089,774 | 61,818 | 0.24% | Shares |
| PFA Pension, Forsikringsaktieselskab | $14,883,136 | 81,547 | 0.23% | Shares |
| Quantinno Capital Management LP | $14,853,764 | 81,386 | 0.23% | Shares |
| Caisse de depot et placement du Quebec | $14,694,245 | 80,512 | 0.23% | Shares |
| BANK OF MONTREAL /CAN/ | $14,297,651 | 78,339 | 0.22% | Shares |
| Ardmore Road Asset Management LP | $14,035,019 | 76,900 | 0.22% | Shares |
| Cubist Systematic Strategies, LLC | $13,845,846 | 29,598 | 0.22% | Shares |
| MARSHALL WACE, LLP | $13,702,851 | 75,080 | 0.21% | Shares |
| MILLENNIUM MANAGEMENT LLC | $13,615,246 | 74,600 | 0.21% | Call option |
| BARCLAYS PLC | $13,286,728 | 72,800 | 0.21% | Put option |
| Trexquant Investment LP | $13,195,108 | 72,298 | 0.21% | Shares |
| Engineers Gate Manager LP | $12,539,167 | 68,704 | 0.20% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $12,470,784 | 68,331 | 0.20% | Shares |
| Optiver Holding B.V. | $12,421,448 | 68,059 | 0.19% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $11,890,344 | 65,149 | 0.19% | Shares |
| Invenomic Capital Management LP | $11,889,796 | 65,146 | 0.19% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $11,360,517 | 62,246 | 0.18% | Shares |
| Y-Intercept (Hong Kong) Ltd | $11,268,167 | 61,740 | 0.18% | Shares |
| CITADEL ADVISORS LLC | $11,261,780 | 61,705 | 0.18% | Shares |
| ALLIANCEBERNSTEIN L.P. | $11,133,157 | 45,609 | 0.17% | Shares |
| TUDOR INVESTMENT CORP ET AL | $11,054,448 | 60,569 | 0.17% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $10,846,125 | 59,428 | 0.17% | Shares |
| Entropy Technologies, LP | $10,493,047 | 57,493 | 0.16% | Shares |
| NDVR, Inc. | $9,930,971 | 24,747 | 0.16% | Shares |
| CWM, LLC | $9,842,056 | 40,320 | 0.15% | Shares |
| ROYAL BANK OF CANADA | $9,821,000 | 53,809 | 0.15% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $9,800,787 | 53,700 | 0.15% | Shares |
| FORA Capital, LLC | $9,625,942 | 52,742 | 0.15% | Shares |
| RHUMBLINE ADVISERS | $9,449,048 | 51,773 | 0.15% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $9,416,056 | 51,592 | 0.15% | Shares |
| EVENTIDE ASSET MANAGEMENT, LLC | $9,406,277 | 51,521 | 0.15% | Shares |
| PEAK6 LLC | $9,162,002 | 50,200 | 0.14% | Put option |
| UBS Group AG | $9,125,500 | 50,000 | 0.14% | Call option |
| Mariner, LLC | $9,123,450 | 49,986 | 0.14% | Shares |
| PEAK6 LLC | $9,015,994 | 49,400 | 0.14% | Call option |
| AMERICAN CENTURY COMPANIES INC | $8,995,553 | 49,288 | 0.14% | Shares |
| Alphadyne Asset Management LP | $8,742,229 | 47,900 | 0.14% | Put option |
| Gotham Asset Management, LLC | $8,680,176 | 47,560 | 0.14% | Shares |
| D. E. Shaw & Co., Inc. | $8,577,970 | 47,000 | 0.13% | Put option |
Company insiders 28 insiders · 8 officers · 18 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Yamini Rangan | Chief Executive Officer & Pres | July 1, 2026 F | 103,796 | 1 | 2 | $-909,940 |
| Kathryn Bueker | Chief Financial Officer | July 1, 2026 F | 56,349 | 0 | 2 | $-367,000 |
| John Kinzer | Chief Financial Officer | June 15, 2018 M | 67,135 | 0 | 0 | $0 |
| Donald J Sherman | President and COO | July 1, 2020 F | 68,600 | 0 | 0 | $0 |
| Dharmesh Shah | Chief Technology Officer | July 1, 2026 F | 1,294,387 | 1 | 7 | $-9,205,340 |
| Dawson Alyssa Harvey | Chief Legal Officer | Nov. 12, 2024 S | 7,603 | 0 | 0 | $0 |
| John P. Kelleher | General Counsel | July 1, 2022 F | 57,878 | 0 | 0 | $0 |
| Hunter Madeley | Chief Sales Officer | July 2, 2019 S | 32,809 | 0 | 0 | $0 |
| Brian Halligan | Director | Aug. 18, 2026 S | 76,500 | 0 | 13 | $-30,361,839 |
| Claire D'Oyly-Hughes Johnson | Director | June 16, 2026 A | 2,839 | 0 | 0 | $0 |
| Jay Simons | Director | June 16, 2026 A | 8,453 | 0 | 0 | $0 |
| Andrew Anagnost | Director | June 16, 2026 A | 2,243 | 0 | 0 | $0 |
| Clara Shih | Director | June 16, 2026 A | 1,521 | 0 | 0 | $0 |
| Michael J Berry | Director | June 16, 2026 A | 1,381 | 0 | 0 | $0 |
| Jill A Ward | Director | June 16, 2026 A | 6,790 | 0 | 0 | $0 |
| Lorrie M Norrington | Director | June 16, 2026 A | 4,049 | 1 | 0 | $250,021 |
| Nick V. Caldwell | Director | June 4, 2025 A | 2,115 | 0 | 0 | $0 |
| Ronald S Gill | Director | June 4, 2025 A | 3,854 | 0 | 0 | $0 |
| Avanish Sahai | Director | June 5, 2023 A | 3,885 | 0 | 0 | $0 |
| Julia Herendeen | Director | March 24, 2022 D | 7,076 | 0 | 0 | $0 |
| Michael K Simon | Director | Dec. 4, 2020 M | 43,608 | 0 | 0 | $0 |
| David R Skok | Director | June 7, 2017 A | 6,754 | 0 | 0 | $0 |
| Lawrence S Bohn | Director | Dec. 15, 2016 G | 18,339 | 0 | 0 | $0 |
| Stacey Bishop | Director | Dec. 9, 2015 S | 98,860 | 0 | 0 | $0 |
| MATRIX PARTNERS VIII L P | 10% owner | Sept. 14, 2015 J | 2,511,347 | 0 | 0 | $0 |
| David J Orfao | 10% owner | June 5, 2015 S | 4,805,731 | 0 | 0 | $0 |
| Gerald Dischler | — | Aug. 10, 2026 P | 1,940 | 1 | 0 | $199,735 |
| Erika Ashley Fisher | — | Aug. 4, 2026 S | 14,581 | 0 | 4 | $-730,191 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 121 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| CLOU · Global X Funds | 3.37% | 41,064 NS | May 31, 2026 | N-PORT |
| NUMG · Nushares ETF Trust | 1.67% | 26,575 NS | April 30, 2026 | N-PORT |
| SKYY · First Trust Exchange-Traded Fund II | 1.62% | 241,688 NS | June 30, 2026 | N-PORT |
| ABOT · Abacus FCF ETF Trust | 1.51% | 300 NS | April 30, 2026 | N-PORT |
| TMFM · RBB Fund, Inc. | 1.40% | 7,407 NS | May 31, 2026 | N-PORT |
| THNQ · EXCHANGE TRADED CONCEPTS TRUST | 1.16% | 16,864 NS | April 30, 2026 | N-PORT |
| SKYU · ProShares Trust | 0.67% | 109 NS | May 31, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.58% | 849 NS | May 31, 2026 | N-PORT |
| FDND · First Trust Exchange-Traded Fund IV | 0.55% | 237 NS | April 30, 2026 | N-PORT |
| KRMA · Global X Funds | 0.50% | 2,752 NS | May 31, 2026 | N-PORT |
| MMID · MFS Active Exchange Traded Funds Tr… | 0.50% | 766 NS | May 31, 2026 | N-PORT |
| QGRO · AMERICAN CENTURY ETF TRUST | 0.44% | 44,264 NS | May 31, 2026 | N-PORT |
| RCGE · EA Series Trust | 0.44% | 1,856 NS | April 30, 2026 | N-PORT |
| VUSE · ETF Series Solutions | 0.43% | 13,323 NS | May 31, 2026 | N-PORT |
| IGV · iShares Trust | 0.42% | 246,251 SH | Aug. 21, 2026 | Daily |
| FDN · First Trust Exchange-Traded Fund | 0.38% | 104,690 NS | June 30, 2026 | N-PORT |
| ISCG · iShares Trust | 0.36% | 15,053 SH | Aug. 21, 2026 | Daily |
| WEBL · Direxion Shares ETF Trust | 0.36% | 1,812 NS | April 30, 2026 | N-PORT |
| PNQI · Invesco Exchange-Traded Fund Trust | 0.34% | 7,642 SH | Aug. 21, 2026 | Daily |
| IWP · iShares Trust | 0.30% | 253,388 SH | Aug. 21, 2026 | Daily |
| JMID · Janus Detroit Street Trust | 0.27% | 218 NS | April 30, 2026 | N-PORT |
| VFQY · VANGUARD WELLINGTON FUND | 0.25% | 6,571 SH | Aug. 19, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.24% | 644,727 SH | Aug. 19, 2026 | Daily |
| LSVD · ADVISORS' INNER CIRCLE FUND | 0.23% | 6,400 NS | April 30, 2026 | N-PORT |
| VFVA · VANGUARD WELLINGTON FUND | 0.23% | 10,692 SH | Aug. 19, 2026 | Daily |
| ESML · iShares Trust | 0.22% | 26,874 SH | Aug. 21, 2026 | Daily |
| IETC · iShares U.S. ETF Trust | 0.22% | 6,348 SH | Aug. 21, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.21% | 24,779 SH | Aug. 21, 2026 | Daily |
| IGPT · Invesco Exchange-Traded Fund Trust | 0.20% | 10,070 SH | Aug. 21, 2026 | Daily |
| BFOR · ALPS ETF Trust | 0.19% | 1,875 NS | May 31, 2026 | N-PORT |
| HDUS · Lattice Strategies Trust | 0.19% | 1,541 NS | April 30, 2026 | N-PORT |
| AOTG · EA Series Trust | 0.18% | 851 NS | May 29, 2026 | N-PORT |
| ISCB · iShares Trust | 0.18% | 2,143 SH | Aug. 21, 2026 | Daily |
| SOVF · Elevation Series Trust | 0.18% | 757 NS | April 30, 2026 | N-PORT |
| SMMD · iShares Trust | 0.16% | 25,398 SH | Aug. 21, 2026 | Daily |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.12% | 41,900 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.11% | 587,283 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.11% | 1,115,917 SH | Aug. 19, 2026 | Daily |
| ESUM · Strategy Shares | 0.11% | 763 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.11% | 3,058 SH | Aug. 21, 2026 | Daily |
| JSTC · Tidal Trust I | 0.10% | 1,591 NS | May 31, 2026 | N-PORT |
| CVMC · Morgan Stanley ETF Trust | 0.10% | 585 NS | June 30, 2026 | N-PORT |
| TMFE · RBB Fund, Inc. | 0.10% | 390 NS | May 31, 2026 | N-PORT |
| HEQQ · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 142 NS | April 30, 2026 | N-PORT |
| FYEE · Fidelity Greenwood Street Trust | 0.09% | 704 NS | April 30, 2026 | N-PORT |
| TECB · iShares Trust | 0.09% | 1,880 SH | Aug. 21, 2026 | Daily |
| GINN · Goldman Sachs ETF Trust | 0.09% | 838 NS | May 31, 2026 | N-PORT |
| IWR · iShares Trust | 0.08% | 201,735 SH | Aug. 21, 2026 | Daily |
| FTEC · FIDELITY COVINGTON TRUST | 0.08% | 67,615 NS | April 30, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.08% | 2,850 SH | Aug. 21, 2026 | Daily |