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

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

Other equities research analysts have also recently issued reports about the company. Stephens initiated coverage on HubSpot in a research note on Wednesday, March 19th. They set an “overweight” rating and a $769.00 target price on the stock. BMO Capital Markets lowered their target price on HubSpot from $885.00 to $745.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. UBS Group lifted their target price on HubSpot from $675.00 to $820.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Macquarie initiated coverage on HubSpot in a research note on Monday, March 24th. They set an “outperform” rating and a $730.00 target price on the stock. Finally, Sanford C. Bernstein initiated coverage on HubSpot in a research note on Thursday, March 20th. They set a “market perform” rating and a $693.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $766.71.

HubSpot Price Performance

HUBS opened at $573.34 on Monday. The company has a market capitalization of $30.24 billion, a price-to-earnings ratio of 6,371.10, a P/E/G ratio of 41.44 and a beta of 1.70. HubSpot has a 1 year low of $434.84 and a 1 year high of $881.13. The firm’s fifty day moving average price is $593.86 and its two-hundred day moving average price is $665.14.

Insider Activity

In related news, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total value of $5,163,580.00. Following the transaction, the insider now directly owns 527,233 shares in the company, valued at approximately $320,283,502.84. This 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 the SEC website. Also, CEO Yamini Rangan sold 680 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $600.00, for a total transaction of $408,000.00. Following the completion of the transaction, the chief executive officer now owns 71,693 shares in the company, valued at approximately $43,015,800. This trade represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,062 shares of company stock worth $11,516,757 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of HubSpot by 4.0% in the first quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker’s stock worth $2,997,407,000 after purchasing an additional 201,994 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of HubSpot by 17.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,910,062 shares of the software maker’s stock worth $2,805,070,000 after purchasing an additional 714,980 shares during the last quarter. Wellington Management Group LLP increased its position in shares of HubSpot by 5.3% in the fourth 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. Massachusetts Financial Services Co. MA grew its position in HubSpot by 37.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker’s stock valued at $530,115,000 after acquiring an additional 251,853 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in HubSpot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 830,405 shares of the software maker’s stock valued at $577,572,000 after acquiring an additional 9,922 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.

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.