HubSpot Inc . (NYSE:HUBS) CEO and President Yamini Rangan recently sold a significant portion of her company stock, according to a new SEC filing. On April 2, 2024, Rangan sold 2,874 shares of HubSpot at an average price of $627.12, totaling over $1.8 million.
The transaction was part of a series of trades involving HubSpot shares by Rangan. Notably, the filing also disclosed that on April 1, shares were withheld by the issuer to cover taxes associated with the settlement of restricted stock units. In this transaction, 3,033 shares were withheld at a price of $636.85, amounting to a total value of approximately $1.93 million.
Following these transactions, Rangan still holds a substantial amount of HubSpot stock. After the sale, her direct ownership in the company stands at 74,784 shares. Additionally, the filing revealed that Rangan is the trustee of the KK 2024 GRAT Grantor Retained Annuity Trust, which holds 8,170 shares of HubSpot.
HubSpot, headquartered in Cambridge, Massachusetts, is a leading provider of cloud-based marketing, sales, and customer service software. As the company navigates the dynamic tech landscape, these recent filings provide insight into the movements of its top executives' stock holdings.
InvestingPro Insights
As HubSpot Inc. (NYSE:HUBS) continues to carve its niche in the competitive cloud-based software market, the company's financial health and stock performance remain a keen interest to investors. The latest sale of shares by CEO Yamini Rangan may draw attention to the company's recent financial metrics and analyst expectations.
An important note for investors is that HubSpot's net income is expected to grow this year, which could signal a positive outlook on profitability. This anticipated growth aligns with the broader strategic objectives of the company to enhance its offerings and market position. Additionally, HubSpot boasts impressive gross profit margins, sitting at a robust 84.08% for the last twelve months as of Q1 2023, reflecting the company's strong pricing power and operational efficiency.
Investors should also consider the company's current valuation multiples. With a market capitalization of $31.77 billion, HubSpot is trading at a high revenue valuation multiple and a Price / Book ratio of 24.06, suggesting a premium market valuation. Despite not being profitable over the last twelve months, the company has demonstrated a strong return over the last three months, with a 18.19% increase, and has seen a significant price uptick over the last six months, boasting a 31.43% return.
For investors seeking a deeper dive into HubSpot's stock performance and financial health, there are additional InvestingPro Tips available. These tips offer insights such as the company's liquidity position, debt levels, and earnings revisions by analysts, which can be crucial for making informed investment decisions. To explore these tips further, visit InvestingPro and discover the full range of expert analysis. And don't forget, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable insights.
As of now, there are 16 additional InvestingPro Tips listed on InvestingPro, providing a comprehensive overview of HubSpot's financial landscape and stock performance for those interested in a more detailed analysis.
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