HubSpot (NYSE:HUBS) Shares Gap Up – Here’s What Happened

HubSpot, Inc. (NYSE:HUBS)’s share price gapped up before the market opened on Friday . The stock had previously closed at $221.76, but opened at $235.42. HubSpot shares last traded at $232.70, with a volume of 207,151 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup reduced their price objective on shares of HubSpot from $368.00 to $321.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays dropped their target price on shares of HubSpot from $525.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Bank of America assumed coverage on shares of HubSpot in a research report on Tuesday, March 31st. They set a “buy” rating and a $300.00 price target on the stock. Wells Fargo & Company lowered their price objective on HubSpot from $600.00 to $350.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Finally, Truist Financial decreased their target price on HubSpot from $650.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Twenty-five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $388.07.

HubSpot Stock Up 7.3%

The stock has a market cap of $12.25 billion, a price-to-earnings ratio of 273.42, a PEG ratio of 3.12 and a beta of 1.44. The stock has a 50 day simple moving average of $242.77 and a 200 day simple moving average of $323.93.

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

Insiders Place Their Bets

In related news, insider Erika Ashley Fisher sold 841 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $238.01, for a total value of $200,166.41. Following the transaction, the insider owned 10,119 shares of the company’s stock, valued at approximately $2,408,423.19. This trade represents a 7.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the director owned 370,558 shares of the company’s stock, valued at $97,364,114.50. This trade represents a 2.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,483 shares of company stock worth $6,585,062 over the last ninety days. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On HubSpot

Several institutional investors have recently bought and sold shares of HUBS. Thrivent Financial for Lutherans lifted its position in shares of HubSpot by 23.7% during the third quarter. Thrivent Financial for Lutherans now owns 23,789 shares of the software maker’s stock worth $11,128,000 after acquiring an additional 4,559 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of HubSpot in the third quarter valued at $48,548,000. Nordea Investment Management AB grew its position in shares of HubSpot by 34.9% in the third quarter. Nordea Investment Management AB now owns 21,638 shares of the software maker’s stock valued at $10,148,000 after purchasing an additional 5,595 shares in the last quarter. OFI Invest Asset Management raised its stake in shares of HubSpot by 130.2% during the 4th quarter. OFI Invest Asset Management now owns 99,622 shares of the software maker’s stock valued at $39,978,000 after purchasing an additional 56,348 shares during the period. Finally, Triasima Portfolio Management inc. purchased a new stake in HubSpot during the 3rd quarter worth about $2,079,000. Institutional investors own 90.39% of the company’s stock.

About HubSpot

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.