HubSpot (NYSE:HUBS) Stock Price Down 3.9% After 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 were traded during trading, a decline of 62% from the average session volume of 613,443 shares. The stock had previously closed at $606.06.

HUBS has been the topic of several other research reports. Royal Bank of Canada boosted their price target on HubSpot from $825.00 to $950.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Needham & Company LLC reissued a "buy" rating and set a $900.00 price objective on shares of HubSpot in a report on Friday, May 9th. Canaccord Genuity Group boosted their target price on shares of HubSpot from $710.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. KeyCorp raised shares of HubSpot from a "sector weight" rating to an "overweight" rating and set a $920.00 target price on the stock in a report on Thursday, February 13th. Finally, Barclays dropped their target price on shares of HubSpot from $815.00 to $745.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Four research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $766.71.

Insiders Place Their Bets

In related news, insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $538.60, for a total value of $4,578,100.00. Following the transaction, the insider now directly owns 525,687 shares in the company, valued at $283,135,018.20. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,062 shares of company stock valued at $11,516,757. 4.50% of the stock is currently owned by insiders.

Institutional Trading of HubSpot

Several institutional investors and hedge funds have recently made changes to their positions in the business. Elequin Capital LP acquired a new stake in shares of HubSpot during the fourth quarter worth $27,000. Larson Financial Group LLC boosted its holdings in 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 buying an additional 27 shares during the last quarter. Coppell Advisory Solutions LLC grew its position in shares of HubSpot by 91.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock worth $32,000 after buying an additional 22 shares during the period. Aster Capital Management DIFC Ltd grew its position in shares of HubSpot by 213.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker's stock worth $33,000 after buying an additional 32 shares during the period. Finally, Cullen Frost Bankers Inc. increased its stake in shares of HubSpot by 130.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock valued at $34,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

HubSpot Stock Performance

The firm has a market capitalization of $29.15 billion, a price-to-earnings ratio of 6,141.57, a P/E/G ratio of 41.44 and a beta of 1.70. The business's 50-day moving average is $596.64 and its two-hundred day moving average is $662.79.

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.