HubSpot (NYSE:HUBS) Trading Down 6.9% – Here’s What Happened

HubSpot, Inc. (NYSE:HUBS) shares were down 6.9% on Tuesday . The company traded as low as $229.15 and last traded at $228.1640. Approximately 636,087 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 1,635,581 shares. The stock had previously closed at $245.14.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HUBS shares. Bank of America started coverage on shares of HubSpot in a report on Tuesday, March 31st. They issued a “buy” rating and a $300.00 price objective for the company. Zacks Research raised shares of HubSpot from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Wells Fargo & Company cut their price objective on shares of HubSpot from $600.00 to $350.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. JPMorgan Chase & Co. cut their price objective on shares of HubSpot from $650.00 to $530.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of HubSpot in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $429.90.

HubSpot Price Performance

The business’s fifty day simple moving average is $254.61 and its two-hundred day simple moving average is $354.87. The company has a market cap of $11.93 billion, a PE ratio of 260.06, a PEG ratio of 3.39 and a beta of 1.44.

HubSpot (NYSE:HUBS) last announced its earnings results on Wednesday, February 11th. The software maker reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.10. HubSpot had a net margin of 1.47% and a return on equity of 3.64%. The business had revenue of $846.75 million for the quarter, compared to analyst estimates of $830.65 million. During the same quarter last year, the business earned $2.32 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, analysts predict that HubSpot, Inc. will post 1.01 EPS for the current year.

Insider Activity

In other news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $262.75, for a total value of $2,233,375.00. Following the sale, the director owned 370,558 shares in the company, valued at $97,364,114.50. This trade represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Erika Ashley Fisher sold 841 shares of HubSpot stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $238.01, for a total transaction of $200,166.41. Following the completion of the sale, the insider owned 10,119 shares in the company, valued at approximately $2,408,423.19. This trade represents a 7.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 26,691 shares of company stock worth $7,250,662. Company insiders own 4.00% of the company’s stock.

Institutional Trading of HubSpot

Several institutional investors have recently modified their holdings of HUBS. Strategic Advocates LLC acquired a new stake in shares of HubSpot in the third quarter valued at about $25,000. Turning Point Benefit Group Inc. acquired a new position in HubSpot during the third quarter worth about $25,000. Goodman Advisory Group LLC acquired a new position in HubSpot during the second quarter worth about $27,000. Exane Asset Management acquired a new position in HubSpot during the third quarter worth about $30,000. Finally, Rakuten Securities Inc. boosted its position in HubSpot by 783.3% during the second quarter. Rakuten Securities Inc. now owns 53 shares of the software maker’s stock worth $30,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

HubSpot Company Profile

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.