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

HubSpot, Inc. (NYSE:HUBS)’s share price fell 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. 232,239 shares traded hands during trading, a decline of 62% from the average session volume of 613,443 shares. The stock had previously closed at $606.06.

Other equities analysts have also recently issued research reports about the stock. Barclays decreased their target price on shares of HubSpot from $815.00 to $745.00 and set an “overweight” rating on the stock in a research report on Friday, May 9th. Citigroup lifted their target price on shares of HubSpot from $750.00 to $759.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. William Blair reiterated an “outperform” rating on shares of HubSpot in a research report on Thursday, February 13th. Scotiabank decreased their target price 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. Finally, Royal Bank of Canada boosted their price objective on shares of HubSpot from $825.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $766.71.

Insider Buying and Selling

In other news, CEO Yamini Rangan sold 2,382 shares of the company’s stock in a transaction that occurred 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 approximately $41,536,312.16. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $607.48, for a total transaction of $5,163,580.00. Following the completion of the transaction, the insider now owns 527,233 shares in the company, valued at approximately $320,283,502.84. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,062 shares of company stock valued at $11,516,757 over the last quarter. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HUBS. Elequin Capital LP bought a new position in HubSpot during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC lifted its position in HubSpot by 168.8% during the fourth quarter. Larson Financial Group LLC now owns 43 shares of the software maker’s stock valued at $30,000 after purchasing an additional 27 shares during the period. Coppell Advisory Solutions LLC lifted its position 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 purchasing an additional 22 shares during the period. Aster Capital Management DIFC Ltd boosted its position in 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. boosted its position in 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 purchasing an additional 34 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

HubSpot Price Performance

The firm 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. The firm has a 50-day simple moving average of $592.41 and a 200-day simple moving average of $665.77.

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.