Top broker urging investors to take profit now on this outperforming ASX share

The Hub24 Ltd (ASX: HUB) share price is zooming higher but this could be the perfect time to lock in profits, according to JPMorgan.

The Hub24 share price surged 5% to $21.80 in the last hour of trade and has increased by three-fold over the past year.

But JPMorgan thinks now is the time to sell the shares as it downgraded Hub24 to “underweight” (equivalent to a “sell”).

Margin squeeze triggers downgrade for Hub24

The downgrade comes after Hub24’s rival, the Netwealth Group Ltd (ASX: NWL) share price, said its deposit agreement with the Australia and New Zealand Banking GrpLtd (ASX: ANZ) was terminated.

The agreement…