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

HubSpot (NYSE:HUBS - Get Free Report) had its target price cut by equities researchers at Wells Fargo & Company from $700.00 to $675.00 in a report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the software maker's stock. Wells Fargo & Company's price objective suggests a potential upside of 10.60% from the company's previous close.

A number of other research firms have also recently commented on HUBS. Stifel Nicolaus set a $750.00 price target on HubSpot in a report on Friday, April 25th. Morgan Stanley upped their target price on shares of HubSpot from $659.00 to $752.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Needham & Company LLC restated a "buy" rating and issued a $900.00 target price on shares of HubSpot in a report on Friday, May 9th. Piper Sandler lifted their price target on HubSpot from $535.00 to $645.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Mizuho lowered their price objective on HubSpot from $900.00 to $700.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Four equities research 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $766.71.

HubSpot Stock Up 0.1%

HubSpot stock traded up $0.91 during trading hours on Monday, hitting $610.31. 318,702 shares of the company traded hands, compared to its average volume of 613,883. HubSpot has a 1-year low of $434.84 and a 1-year high of $881.13. The firm's 50-day simple moving average is $591.03 and its two-hundred day simple moving average is $667.32. The firm has a market cap of $32.19 billion, a P/E ratio of 6,780.59, a P/E/G ratio of 41.44 and a beta of 1.70.

Insider Activity

In other HubSpot news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $538.60, for a total transaction of $4,578,100.00. Following the sale, the insider now directly owns 525,687 shares of the company's stock, valued at approximately $283,135,018.20. The trade was a 1.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Yamini Rangan sold 680 shares of the company's 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 transaction, the chief executive officer now owns 71,693 shares in the company, valued at $43,015,800. This represents a 0.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,062 shares of company stock worth $11,516,757 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HubSpot

Institutional investors have recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of HubSpot during the 1st quarter valued at about $10,569,000. Addison Capital Co increased its holdings in shares of HubSpot by 2.7% in the first quarter. Addison Capital Co now owns 4,046 shares of the software maker's stock valued at $2,311,000 after purchasing an additional 106 shares during the period. Acadian Asset Management LLC increased 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 purchasing an additional 660 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of HubSpot by 168.8% during the first 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 during the period. Finally, IFM Investors Pty Ltd grew its holdings in shares of HubSpot by 5.3% during the 1st quarter. IFM Investors Pty Ltd now owns 9,729 shares of the software maker's stock worth $5,558,000 after purchasing an additional 488 shares during the period. Institutional investors own 90.39% of the company's stock.

HubSpot Company Profile

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.

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