HubSpot (NYSE:HUBS) Stock Price Down 3.9% on Analyst Downgrade

HubSpot, Inc. (NYSE:HUBS) shares dropped 3.9% on Tuesday after Wells Fargo & Company lowered their price target on the stock from $700.00 to $675.00. Wells Fargo & Company currently has an overweight rating on the stock. HubSpot traded as low as $577.53 and last traded at $582.57. Approximately 232,239 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 613,443 shares. The stock had previously closed at $606.06.

Several other research analysts also recently weighed in on the stock. BNP Paribas initiated coverage on shares of HubSpot in a research report on Tuesday, April 22nd. They issued an “outperform” rating and a $700.00 price target on the stock. KeyCorp upgraded shares of HubSpot from a “sector weight” rating to an “overweight” rating and set a $920.00 price target on the stock in a research report on Thursday, February 13th. Scotiabank decreased their price target on shares of HubSpot from $900.00 to $750.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 24th. Redburn Atlantic initiated coverage on shares of HubSpot in a research report on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group decreased their price target on shares of HubSpot from $900.00 to $795.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Four analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, HubSpot currently has a consensus rating of “Moderate Buy” and a consensus target price of $766.71.

Insider Activity at HubSpot

In other HubSpot news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total value of $5,163,580.00. Following the completion of the transaction, the insider now directly owns 527,233 shares of the company’s stock, valued at $320,283,502.84. This trade represents a 1.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Yamini Rangan sold 680 shares of HubSpot stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $600.00, for a total transaction of $408,000.00. Following the completion of the transaction, the chief executive officer now directly owns 71,693 shares of the company’s stock, valued at $43,015,800. The trade was a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,062 shares of company stock valued at $11,516,757. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On HubSpot

A number of institutional investors and hedge funds have recently modified their holdings of HUBS. Strs Ohio purchased a new position in shares of HubSpot during the 1st quarter worth about $10,569,000. Addison Capital Co boosted its stake in shares of HubSpot by 2.7% during the 1st quarter. Addison Capital Co now owns 4,046 shares of the software maker’s stock worth $2,311,000 after purchasing an additional 106 shares during the period. Acadian Asset Management LLC boosted its stake in shares of HubSpot by 15.0% during the 1st quarter. Acadian Asset Management LLC now owns 5,059 shares of the software maker’s stock worth $2,888,000 after purchasing an additional 660 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of HubSpot by 168.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 172 shares of the software maker’s stock worth $98,000 after purchasing an additional 108 shares during the period. Finally, IFM Investors Pty Ltd boosted its stake in shares of HubSpot by 5.3% during the 1st quarter. IFM Investors Pty Ltd now owns 9,729 shares of the software maker’s stock worth $5,558,000 after purchasing an additional 488 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

HubSpot Trading Down 4.2%

The business’s 50 day moving average is $592.41 and its 200 day moving average is $665.77. The stock has a market capitalization of $30.63 billion, a PE ratio of 6,454.33, a PEG ratio of 41.44 and a beta of 1.70.

HubSpot Company Profile

HubSpot, Inc, together with its subsidiaries, provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes Marketing Hub, a toolset for marketing automation and email, social media, SEO, and reporting and analytics; Sales Hub offers email templates and tracking, conversations and live chat, meeting and call scheduling, lead and website visit alerts, lead scoring, sales automation, pipeline management, quoting, forecasting, and reporting; Service Hub, a service software designed to help businesses manage, respond, and connect with customers; and Content Management Systems Hub enables businesses to create new and edit existing web content.