HubSpot (NYSE:HUBS) Shares Gap Down on Analyst Downgrade

HubSpot, Inc. (NYSE:HUBS)’s stock price gapped down prior to trading on Friday after KeyCorp lowered their price target on the stock from $520.00 to $460.00. The stock had previously closed at $489.77, but opened at $479.36. KeyCorp currently has an underweight rating on the stock. HubSpot shares last traded at $477.22, with a volume of 131,344 shares traded.

HUBS has been the subject of a number of other reports. Piper Sandler lowered their price target on shares of HubSpot from $655.00 to $570.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company lowered their price target on shares of HubSpot from $750.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday. Canaccord Genuity Group lowered their price target on shares of HubSpot from $750.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and set a $730.00 price objective on shares of HubSpot in a research note on Thursday, May 9th. Finally, Citigroup reduced their price objective on shares of HubSpot from $798.00 to $767.00 and set a “buy” rating for the company in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, HubSpot presently has a consensus rating of “Moderate Buy” and a consensus price target of $631.58.

Insiders Place Their Bets

In other news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $636.18, for a total value of $5,407,530.00. Following the transaction, the insider now directly owns 526,041 shares of the company’s stock, valued at approximately $334,656,763.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $636.18, for a total value of $5,407,530.00. Following the completion of the sale, the insider now directly owns 526,041 shares in the company, valued at approximately $334,656,763.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Dharmesh Shah sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $586.85, for a total value of $14,671,250.00. Following the transaction, the chief technology officer now owns 1,348,929 shares of the company’s stock, valued at approximately $791,618,983.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,491 shares of company stock valued at $28,092,844. Insiders own 4.50% of the company’s stock.

Institutional Trading of HubSpot

Large investors have recently made changes to their positions in the stock. Riverview Trust Co bought a new stake in shares of HubSpot during the 1st quarter worth about $27,000. Rakuten Securities Inc. bought a new stake in HubSpot during the 4th quarter valued at approximately $29,000. Geneos Wealth Management Inc. boosted its stake in HubSpot by 1,125.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker’s stock valued at $31,000 after purchasing an additional 45 shares during the period. Venturi Wealth Management LLC boosted its stake in HubSpot by 335.7% during the 4th quarter. Venturi Wealth Management LLC now owns 61 shares of the software maker’s stock valued at $35,000 after purchasing an additional 47 shares during the period. Finally, Larson Financial Group LLC boosted its stake in HubSpot by 1,380.0% during the 4th quarter. Larson Financial Group LLC now owns 74 shares of the software maker’s stock valued at $43,000 after purchasing an additional 69 shares during the period. Institutional investors own 90.39% of the company’s stock.

HubSpot Stock Performance

The firm has a 50 day moving average of $590.05 and a two-hundred day moving average of $602.95. The stock has a market cap of $24.34 billion, a P/E ratio of -184.82 and a beta of 1.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.07 and a current ratio of 2.07.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.27. HubSpot had a negative return on equity of 4.94% and a negative net margin of 5.78%. The company had revenue of $617.41 million during the quarter, compared to the consensus estimate of $597.12 million. On average, research analysts predict that HubSpot, Inc. will post -0.55 EPS for the current fiscal year.

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.