Wells Fargo & Company Issues Pessimistic Forecast for HubSpot (NYSE:HUBS) Stock Price

HubSpot (NYSE:HUBS - Free Report) had its price objective trimmed by Wells Fargo & Company from $700.00 to $675.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the software maker's stock.

A number of other brokerages also recently weighed in on HUBS. Citigroup boosted their price objective on shares of HubSpot from $750.00 to $759.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Morgan Stanley boosted their price objective on shares of HubSpot from $659.00 to $752.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Royal Bank of Canada boosted their price objective on shares of HubSpot from $825.00 to $950.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $900.00 price objective on shares of HubSpot in a research report on Friday, May 9th. Finally, Macquarie started coverage on shares of HubSpot in a research report on Monday, March 24th. They set an "outperform" rating and a $730.00 price objective for the company. Four investment 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 stock. Based on data from MarketBeat, HubSpot presently has a consensus rating of "Moderate Buy" and a consensus target price of $766.71.

HubSpot Stock Performance

Shares of HubSpot stock traded down $4.53 during trading on Monday, reaching $569.04. The company had a trading volume of 1,222,050 shares, compared to its average volume of 620,258. The company has a market cap of $30.01 billion, a price-to-earnings ratio of 6,323.37, a price-to-earnings-growth ratio of 41.44 and a beta of 1.70. The firm's fifty day moving average is $593.86 and its 200-day moving average is $665.14. HubSpot has a fifty-two week low of $434.84 and a fifty-two week high of $881.13.

Insider Activity

In related news, CEO Yamini Rangan sold 680 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $600.00, for a total transaction of $408,000.00. Following the completion of the sale, the chief executive officer now directly owns 71,693 shares of the company's stock, valued at $43,015,800. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 527,233 shares of the company's stock, valued at approximately $320,283,502.84. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,062 shares of company stock worth $11,516,757 over the last three months. Corporate insiders own 4.50% of the company's stock.

Institutional Trading of HubSpot

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elequin Capital LP acquired a new stake in HubSpot during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC lifted its stake in HubSpot by 168.8% during the fourth quarter. Larson Financial Group LLC now owns 43 shares of the software maker's stock valued at $30,000 after purchasing an additional 27 shares during the last quarter. Coppell Advisory Solutions LLC lifted its stake in HubSpot by 91.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock valued at $32,000 after purchasing an additional 22 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its position in shares of HubSpot by 213.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker's stock valued at $33,000 after acquiring an additional 32 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in shares of HubSpot by 130.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock valued at $34,000 after acquiring an additional 34 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

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.