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

HubSpot, Inc. (NYSE:HUBS - Get Free Report)'s stock price traded 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. 232,239 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 613,443 shares. The stock had previously closed at $606.06.

Other analysts have also issued research reports about the stock. Morgan Stanley lifted their price target on shares of HubSpot from $659.00 to $752.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. William Blair restated an "outperform" rating on shares of HubSpot in a research note on Thursday, February 13th. Wall Street Zen upgraded shares of HubSpot from a "hold" rating to a "buy" rating in a research note on Saturday. Cantor Fitzgerald assumed coverage on shares of HubSpot in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $775.00 price target for the company. Finally, Piper Sandler lifted their price target on shares of HubSpot from $535.00 to $645.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. 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.com, HubSpot currently has an average rating of "Moderate Buy" and a consensus target price of $766.71.

Insiders Place Their Bets

In other HubSpot news, insider Brian Halligan sold 8,500 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 527,233 shares in the company, valued at approximately $320,283,502.84. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Yamini Rangan sold 2,382 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $573.92, for a total transaction of $1,367,077.44. Following the completion of the sale, the chief executive officer now owns 72,373 shares in the company, valued at approximately $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 three months, insiders have sold 20,062 shares of company stock worth $11,516,757. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of HubSpot

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in HubSpot by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker's stock worth $2,997,407,000 after buying an additional 201,994 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in HubSpot by 17.0% during the 1st 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 buying an additional 714,980 shares during the period. Wellington Management Group LLP raised its holdings in HubSpot by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 1,477,190 shares of the software maker's stock worth $1,029,262,000 after buying an additional 74,990 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in HubSpot by 37.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker's stock worth $530,115,000 after buying an additional 251,853 shares during the period. Finally, Geode Capital Management LLC raised its holdings in HubSpot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 830,405 shares of the software maker's stock worth $577,572,000 after buying an additional 9,922 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

HubSpot Trading Down 1.5%

The company has a fifty day simple moving average of $592.41 and a 200-day simple moving average of $665.77. The stock has a market cap of $30.24 billion, a price-to-earnings ratio of 6,371.10, a P/E/G 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.