Wells Fargo & Company Lowers HubSpot (NYSE:HUBS) Price Target to $675.00

HubSpot (NYSE:HUBS) had its price target cut by investment analysts at Wells Fargo & Company from $700.00 to $675.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 16.21% from the company’s current price.

A number of other equities research analysts have also weighed in on HUBS. Barclays reduced their target price on shares of HubSpot from $815.00 to $745.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. Scotiabank reduced their target price on shares of HubSpot from $900.00 to $750.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 24th. Stephens initiated coverage on shares of HubSpot in a report on Wednesday, March 19th. They set an “overweight” rating and a $769.00 target price on the stock. Jefferies Financial Group reduced their target price on shares of HubSpot from $900.00 to $700.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Raymond James reissued an “outperform” rating and set a $825.00 target price (down from $980.00) on shares of HubSpot in a report on Friday, May 9th. Four analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, HubSpot currently has a consensus rating of “Moderate Buy” and an average target price of $766.71.

HubSpot Stock Performance

Shares of HUBS stock opened at $580.83 on Monday. The company has a market capitalization of $30.63 billion, a price-to-earnings ratio of 6,454.33, a PEG ratio of 41.44 and a beta of 1.70. The company has a 50-day simple moving average of $592.41 and a 200 day simple moving average of $665.77. HubSpot has a 52 week low of $434.84 and a 52 week high of $881.13.

Insiders Place Their Bets

In related news, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total transaction of $5,163,580.00. Following the completion of the sale, the insider now directly owns 527,233 shares in the company, valued at approximately $320,283,502.84. This trade represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Yamini Rangan sold 680 shares of HubSpot stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $600.00, for a total transaction of $408,000.00. Following the sale, the chief executive officer now owns 71,693 shares of the company’s stock, valued at approximately $43,015,800. This represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,062 shares of company stock worth $11,516,757. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in HubSpot during the first quarter worth about $10,569,000. Addison Capital Co raised its position in shares of HubSpot by 2.7% during the 1st quarter. Addison Capital Co now owns 4,046 shares of the software maker’s stock worth $2,311,000 after purchasing an additional 106 shares during the last quarter. Acadian Asset Management LLC lifted its stake in HubSpot by 15.0% in the 1st quarter. Acadian Asset Management LLC now owns 5,059 shares of the software maker’s stock valued at $2,888,000 after buying an additional 660 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in HubSpot by 168.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 172 shares of the software maker’s stock valued at $98,000 after buying an additional 108 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its position in HubSpot by 5.3% during the first quarter. IFM Investors Pty Ltd now owns 9,729 shares of the software maker’s stock worth $5,558,000 after acquiring an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

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.