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

HubSpot (NYSE:HUBS) had its target price reduced by Wells Fargo & Company from $700.00 to $675.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Several other brokerages also recently commented on HUBS. Stifel Nicolaus set a $750.00 target price on shares of HubSpot in a report on Friday, April 25th. Wall Street Zen upgraded shares of HubSpot from a “hold” rating to a “buy” rating in a report on Saturday. BNP Paribas started coverage on shares of HubSpot in a research report on Tuesday, April 22nd. They issued an “outperform” rating and a $700.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $900.00 target price on shares of HubSpot in a report on Friday, May 9th. Finally, Cantor Fitzgerald initiated coverage on HubSpot in a research note on Tuesday, June 3rd. They issued an “overweight” rating and a $775.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $766.71.

HubSpot Price Performance

Shares of HubSpot stock opened at $606.92 on Monday. The company has a market capitalization of $32.01 billion, a P/E ratio of 6,744.25, a price-to-earnings-growth ratio of 41.44 and a beta of 1.70. The business has a 50-day moving average of $591.29 and a two-hundred day moving average of $666.37. HubSpot has a 1 year low of $434.84 and a 1 year high of $881.13.

Insider Transactions at HubSpot

In related news, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $538.60, for a total value of $4,578,100.00. Following the transaction, the insider now owns 525,687 shares in the company, valued at approximately $283,135,018.20. This represents a 1.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yamini Rangan sold 2,382 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $573.92, for a total transaction of $1,367,077.44. Following the sale, the chief executive officer now owns 72,373 shares of the company’s stock, valued at $41,536,312.16. This trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,062 shares of company stock worth $11,516,757. 4.50% of the stock is owned by company insiders.

Institutional Trading of HubSpot

Several hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in HubSpot by 5.4% during the 4th quarter. Farther Finance Advisors LLC now owns 255 shares of the software maker’s stock worth $178,000 after buying an additional 13 shares during the period. Wedbush Securities Inc. boosted its position in shares of HubSpot by 3.4% in the fourth quarter. Wedbush Securities Inc. now owns 393 shares of the software maker’s stock valued at $274,000 after acquiring an additional 13 shares during the period. First Horizon Advisors Inc. grew its stake in shares of HubSpot by 2.4% in the fourth quarter. First Horizon Advisors Inc. now owns 638 shares of the software maker’s stock valued at $445,000 after acquiring an additional 15 shares in the last quarter. Amalgamated Bank increased its position in HubSpot by 0.5% during the fourth quarter. Amalgamated Bank now owns 3,259 shares of the software maker’s stock worth $2,271,000 after acquiring an additional 16 shares during the period. Finally, Venturi Wealth Management LLC increased its position in HubSpot by 1.1% during the first quarter. Venturi Wealth Management LLC now owns 1,507 shares of the software maker’s stock worth $861,000 after acquiring an additional 16 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

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.