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

HubSpot, Inc. (NYSE:HUBS) was down 3.9% during trading 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.

A number of other brokerages have also commented on HUBS. Oppenheimer lifted their price target on shares of HubSpot from $700.00 to $750.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. Sanford C. Bernstein began coverage on shares of HubSpot in a research note on Thursday, March 20th. They set a “market perform” rating and a $693.00 target price for the company. Redburn Atlantic started coverage on shares of HubSpot in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. UBS Group lifted their price objective on HubSpot from $675.00 to $820.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, Canaccord Genuity Group upped their target price on HubSpot from $710.00 to $900.00 and gave the company a “buy” 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 given a strong buy rating to the stock. According to data from MarketBeat, HubSpot presently has a consensus rating of “Moderate Buy” and a consensus price target of $766.71.

Insider Buying and Selling at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 680 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $600.00, for a total transaction of $408,000.00. Following the sale, the chief executive officer now directly owns 71,693 shares of the company’s stock, valued at $43,015,800. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction dated 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 transaction, the insider now owns 527,233 shares of the company’s stock, valued at $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 a total of 20,062 shares of company stock worth $11,516,757 over the last three months. 4.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HubSpot

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in HubSpot by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker’s stock valued at $2,997,407,000 after buying an additional 201,994 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of HubSpot by 17.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,910,062 shares of the software maker’s stock worth $2,805,070,000 after acquiring an additional 714,980 shares during the period. Wellington Management Group LLP boosted its holdings in shares of HubSpot by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 1,477,190 shares of the software maker’s stock worth $1,029,262,000 after acquiring an additional 74,990 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of HubSpot by 37.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker’s stock valued at $530,115,000 after purchasing an additional 251,853 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of HubSpot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 830,405 shares of the software maker’s stock valued at $577,572,000 after purchasing an additional 9,922 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

HubSpot Stock Performance

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.

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.