Hubspot CTO Dharmesh Shah sells shares worth $18.5 million

CAMBRIDGE, Mass.— HubSpot Inc . (NYSE:HUBS), a $36.2 billion market cap company, saw its Chief Technology Officer Dharmesh Shah recently sell a substantial portion of his holdings. According to a Form 4 filing with the Securities and Exchange Commission, Shah sold shares totaling approximately $18.5 million on December 17, 2024. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.

The transactions involved multiple sales of HubSpot common stock, with prices per share ranging from $734.9 to $745.8. Following these sales, Shah retains direct ownership of 1,272,077 shares in the company.

These transactions were conducted under a pre-established 10b5-1 trading plan, which was adopted on August 16, 2024. Additionally, Shah holds indirect ownership of shares through the Polaris (NYSE:PII) I and Polaris II Trusts, for which he serves as trustee.

HubSpot, based in Cambridge, Massachusetts, is a leading provider of software solutions for marketing, sales, and customer service.

In other recent news, HubSpot has seen several significant developments. BofA Securities has raised its price target for HubSpot from $780 to $850, maintaining a Buy rating. This upgrade is due to the company's growth potential within the $125 billion CRM industry, with AI as a significant catalyst for market expansion.

Furthermore, HubSpot announced its intention to acquire Frame AI, a company specializing in AI-powered conversation intelligence. This acquisition aims to enhance HubSpot's ability to extract real-time insights from unstructured data, thereby improving customer experience and business growth.

In addition to these developments, Stifel has increased its price target for HubSpot to $880 from $750, reiterating a Buy rating. This adjustment comes on the back of several significant product updates and a revamped pricing model.

Truist Securities has also maintained a Buy rating and a $750.00 price target for HubSpot, expressing continued confidence in the company post-acquisition.

However, the company also announced the resignation of its Chief Legal Officer, Alyssa Harvey Dawson, effective December 31, 2024, with a severance agreement in place to ensure a smooth transition until March 1, 2025.

These are the recent developments for HubSpot, a company that continues to focus on strategic initiatives aimed at driving future growth.

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