CTAs are almost max long in equities, have very limited room to buy: UBS
Rangan Yamini, the Chief Executive Officer and President of HubSpot Inc . (NYSE:HUBS), recently sold a significant portion of the company's shares. According to a recent filing, Yamini sold 3,057 shares of common stock on January 3rd, with an average selling price of $701.59 per share. This transaction amounts to a total value of approximately $2.14 million. The sale comes as HubSpot, currently valued at $36.4 billion, maintains impressive gross profit margins of 85% and strong revenue growth of 22% year-over-year. According to InvestingPro analysis, the stock is trading slightly above its Fair Value.
The sale was conducted under a 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stock. Following this sale, Yamini holds 54,079 shares directly.
Additionally, on January 2nd, Yamini had 2,853 shares withheld by the issuer to cover taxes related to the settlement of restricted stock units, valued at approximately $1.99 million. These transactions reflect Yamini's ongoing management of her equity holdings in the company.
In other recent news, HubSpot has seen a series of significant developments. The company reported a robust revenue growth of 21.78% and maintained an impressive gross profit margin of 84.66%. HubSpot's acquisition of Frame AI, a firm specializing in AI-powered conversation intelligence, is expected to enhance its ability to unify customer data and provide actionable insights for businesses.
Analyst firms have shown confidence in HubSpot's strategic direction. RBC Capital Markets maintained an Outperform rating and raised its price target to $825, while BofA Securities raised its price target to $850 and Truist Securities maintained a Buy rating with a price target of $750. Stifel also raised its price target for HubSpot to $880, citing positive product updates.
On a different note, HubSpot announced the resignation of its Chief Legal Officer, Alyssa Harvey Dawson, effective December 31, 2024, with a transition plan in place until March 1, 2025. These are among the recent developments for HubSpot, as the company continues to focus on strategic initiatives aimed at driving future growth.
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