Piper Sandler Downgrades HubSpot (NYSE:HUBS) to Neutral

Piper Sandler lowered shares of HubSpot (NYSE:HUBS) from an overweight rating to a neutral rating in a research report released on Thursday, MarketBeat reports. The firm currently has $640.00 price target on the software maker’s stock, up from their previous price target of $570.00.

HUBS has been the subject of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $730.00 target price on shares of HubSpot in a research note on Monday, October 14th. Canaccord Genuity Group dropped their target price on shares of HubSpot from $700.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company dropped their target price on shares of HubSpot from $650.00 to $625.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. UBS Group lowered their price target on shares of HubSpot from $580.00 to $550.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Citigroup decreased their target price on shares of HubSpot from $699.00 to $629.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $654.71.

HubSpot Stock Performance

Shares of NYSE HUBS traded down $9.72 during midday trading on Thursday, reaching $634.89. The stock had a trading volume of 248,024 shares, compared to its average volume of 590,475. The stock has a 50-day moving average of $529.41 and a 200-day moving average of $545.99. The company has a market capitalization of $32.60 billion, a price-to-earnings ratio of -1,192.09, a price-to-earnings-growth ratio of 7,506.16 and a beta of 1.63. HubSpot has a 12-month low of $413.07 and a 12-month high of $693.85.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. The firm had revenue of $637.20 million during the quarter, compared to analyst estimates of $619.28 million. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business earned ($1.17) EPS.

Insider Transactions at HubSpot

In other news, CEO Yamini Rangan sold 116 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the sale, the chief executive officer now owns 67,203 shares of the company’s stock, valued at $33,009,441.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Kathryn Bueker sold 1,804 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $550.00, for a total transaction of $992,200.00. Following the transaction, the chief financial officer now directly owns 41,259 shares of the company’s stock, valued at approximately $22,692,450. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Yamini Rangan sold 116 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the transaction, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,937 shares of company stock worth $3,194,673. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of HubSpot in the 3rd quarter valued at about $1,706,000. Caprock Group LLC increased its holdings in HubSpot by 16.8% during the 3rd quarter. Caprock Group LLC now owns 673 shares of the software maker’s stock worth $358,000 after purchasing an additional 97 shares in the last quarter. Aviso Wealth Management increased its holdings in HubSpot by 26.3% during the 3rd quarter. Aviso Wealth Management now owns 1,762 shares of the software maker’s stock worth $936,000 after purchasing an additional 367 shares in the last quarter. Quest Partners LLC increased its holdings in HubSpot by 125.6% during the 3rd quarter. Quest Partners LLC now owns 871 shares of the software maker’s stock worth $463,000 after purchasing an additional 485 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of HubSpot by 0.8% in the third quarter. Swiss National Bank now owns 143,700 shares of the software maker’s stock valued at $76,391,000 after acquiring an additional 1,100 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

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.