Lorrie M. Norrington, a director at HubSpot Inc . (NYSE:HUBS), recently sold a portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Norrington sold 572 shares of HubSpot common stock on December 20, 2024. The shares were sold at a price of $690 each, totaling $394,680. The stock has since climbed to $724.67, reflecting HubSpot's strong momentum with a 26.88% gain over the past six months. InvestingPro analysis suggests the $37.4B market cap company is trading above its Fair Value.
Following this transaction, Norrington holds 1,697 shares of the company. This sale was conducted under a 10b5-1 trading plan, which allows company insiders to prearrange sales of their stock in accordance with insider trading laws. For deeper insights into HubSpot's valuation and insider trading patterns, InvestingPro subscribers can access the comprehensive Pro Research Report, featuring expert analysis of key metrics and market positioning.
In other recent news, HubSpot Inc. has been the focus of several analyst adjustments. BofA Securities raised its price target for the company to $850, highlighting HubSpot's growth potential in the CRM industry. The firm anticipates a potential reacceleration of HubSpot's growth to mid-20s percentage, propelled by AI advancements and a better macroeconomic outlook. Similarly, Truist Securities maintained a Buy rating for HubSpot, following the company's acquisition of Frame AI, a firm specializing in conversational intelligence. The acquisition is expected to enhance functionalities across various domains, including marketing, sales, and customer service.
Stifel also raised its price target for HubSpot, based on recent product updates and a revamped pricing model. The firm conducted a survey with HubSpot's partners, which indicated that partners play a key role in driving demand and co-selling with HubSpot representatives. HubSpot also announced plans to acquire Frame AI, an AI-powered conversation intelligence firm, aiming to enhance its ability to derive real-time insights from unstructured data.
Lastly, HubSpot disclosed the resignation of its Chief Legal Officer, Alyssa Harvey Dawson, effective December 31, 2024. A severance agreement has been arranged to ensure a smooth transition until March 1, 2025. These are the recent developments for HubSpot, as the company continues to focus on strategic initiatives aimed at driving future growth.
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