Wells Fargo & Company Cuts HubSpot (NYSE:HUBS) Price Target to $700.00

HubSpot (NYSE:HUBS) had its target price decreased by research analysts at Wells Fargo & Company from $940.00 to $700.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Wells Fargo & Company‘s price target points to a potential upside of 34.95% from the company’s current price.

A number of other equities analysts have also recently issued reports on HUBS. UBS Group raised HubSpot from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $775.00 to $675.00 in a report on Tuesday, April 15th. Royal Bank of Canada raised their price target on HubSpot from $825.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Mizuho decreased their price objective on shares of HubSpot from $900.00 to $700.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. KeyCorp raised shares of HubSpot from a “sector weight” rating to an “overweight” rating and set a $920.00 price target on the stock in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group upped their price objective on HubSpot from $783.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $804.78.

HubSpot Stock Down 3.9 %

Shares of NYSE:HUBS opened at $518.70 on Tuesday. HubSpot has a 12-month low of $434.84 and a 12-month high of $881.13. The firm has a fifty day moving average of $622.56 and a two-hundred day moving average of $660.98. The firm has a market capitalization of $27.05 billion, a P/E ratio of 5,763.97, a price-to-earnings-growth ratio of 41.44 and a beta of 1.82.

HubSpot (NYSE:HUBS) last announced its earnings results on Wednesday, February 12th. The software maker reported $0.20 EPS for the quarter, missing the consensus estimate of $2.18 by ($1.98). HubSpot had a negative return on equity of 0.07% and a net margin of 0.17%. Equities research analysts expect that HubSpot will post 1.01 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $607.48, for a total transaction of $5,163,580.00. Following the transaction, the insider now owns 527,233 shares in the company, valued at $320,283,502.84. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Yamini Rangan sold 2,382 shares of the company’s stock in a transaction 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 directly owns 72,373 shares of the company’s stock, valued at $41,536,312.16. The trade was a 3.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,882 shares of company stock valued at $17,993,757. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On HubSpot

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in shares of HubSpot by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 1,477,190 shares of the software maker’s stock worth $1,029,262,000 after purchasing an additional 74,990 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of HubSpot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 830,405 shares of the software maker’s stock worth $577,572,000 after acquiring an additional 9,922 shares in the last quarter. Groupama Asset Managment increased its holdings in HubSpot by 3.8% during the 4th quarter. Groupama Asset Managment now owns 726,799 shares of the software maker’s stock worth $506,412,000 after purchasing an additional 26,799 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in HubSpot by 18.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 676,074 shares of the software maker’s stock valued at $471,068,000 after buying an additional 104,800 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in HubSpot by 3.8% during the 4th quarter. Bank of New York Mellon Corp now owns 674,523 shares of the software maker’s stock valued at $469,987,000 after acquiring an additional 24,799 shares during the last quarter. Institutional investors and hedge funds 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.