Hudson Pacific Properties (NYSE:HPP) Shares Gap Up After Insider Buying Activity

Hudson Pacific Properties, Inc. (NYSE:HPP) gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $3.62, but opened at $3.82. Hudson Pacific Properties shares last traded at $3.77, with a volume of 135,241 shares trading hands.

Specifically, CEO Victor J. Coleman acquired 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $3.53 per share, with a total value of $176,500.00. Following the purchase, the chief executive officer now owns 437,451 shares of the company’s stock, valued at approximately $1,544,202.03. This trade represents a 12.90 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HPP. Wells Fargo & Company decreased their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Piper Sandler decreased their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Bank of America cut their target price on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. Finally, The Goldman Sachs Group lowered their price target on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.17.

Hudson Pacific Properties Trading Up 6.4 %

The company has a fifty day moving average of $4.38 and a two-hundred day moving average of $4.84. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $543.74 million, a price-to-earnings ratio of -1.84 and a beta of 1.31.

Institutional Trading of Hudson Pacific Properties

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in shares of Hudson Pacific Properties by 549.1% during the 3rd quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 5,013 shares during the period. Venturi Wealth Management LLC acquired a new stake in Hudson Pacific Properties during the third quarter worth about $44,000. Stifel Financial Corp acquired a new stake in Hudson Pacific Properties during the third quarter worth about $48,000. Key Client Fiduciary Advisors LLC bought a new position in Hudson Pacific Properties during the second quarter valued at about $53,000. Finally, MQS Management LLC acquired a new position in Hudson Pacific Properties in the 3rd quarter valued at approximately $58,000. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.