HubSpot (NYSE:HUBS) Shares Down 3.9% Following Analyst Downgrade

HubSpot, Inc. (NYSE:HUBS) was down 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.

HUBS has been the topic of several other reports. BNP Paribas began coverage on shares of HubSpot in a research report on Tuesday, April 22nd. They issued an “outperform” rating and a $700.00 price objective on the stock. Raymond James restated an “outperform” rating and set a $825.00 price objective (down previously from $980.00) on shares of HubSpot in a research report on Friday, May 9th. Barclays dropped their price objective on shares of HubSpot from $815.00 to $745.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Mizuho reduced their target price on HubSpot from $900.00 to $700.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, Stifel Nicolaus set a $750.00 price target on HubSpot in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, HubSpot currently has a consensus rating of “Moderate Buy” and an average target price of $766.71.

Insider Buying and Selling

In other 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 transaction of $5,163,580.00. Following the transaction, the insider now owns 527,233 shares in the company, valued at $320,283,502.84. This trade represents a 1.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Yamini Rangan sold 2,382 shares of HubSpot stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $573.92, for a total value of $1,367,077.44. Following the transaction, the chief executive officer now owns 72,373 shares in the company, valued at $41,536,312.16. This trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,062 shares of company stock worth $11,516,757. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On HubSpot

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Elequin Capital LP purchased a new position in HubSpot in the 4th quarter worth approximately $27,000. Larson Financial Group LLC boosted its position in shares of HubSpot by 168.8% during the fourth quarter. Larson Financial Group LLC now owns 43 shares of the software maker’s stock worth $30,000 after acquiring an additional 27 shares during the last quarter. Coppell Advisory Solutions LLC grew its stake in HubSpot by 91.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker’s stock valued at $32,000 after acquiring an additional 22 shares in the last quarter. Aster Capital Management DIFC Ltd increased its holdings in shares of HubSpot by 213.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker’s stock worth $33,000 after purchasing an additional 32 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in shares of HubSpot by 130.8% in the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker’s stock worth $34,000 after buying an additional 34 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

HubSpot Stock Down 4.2%

The business has a 50 day moving average of $591.29 and a 200 day moving average of $666.37. The company has a market capitalization of $30.61 billion, a P/E ratio of 6,469.67, a price-to-earnings-growth ratio of 41.44 and a beta of 1.70.

About HubSpot

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.