The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Hudson Pacific Properties Inc. shares valued at $147,720 were purchased by HARRIS ROBERT L II on Sep 20. At $12.31 per share, HARRIS ROBERT L II acquired 12,000 shares. The insider’s holdings grew to 51,013 shares worth approximately $0.6 million following the completion of this transaction.
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Also, GLASER JONATHAN M purchased 20,000 shares, netting a total of over 245,600 in proceeds. Following the buying of shares at $12.28 each, the insider now holds 21,500 shares.
Before that, Barton Christopher James had sold 14,671 shares from its account. In a trade valued at $361,347, the EVP,Development & Capital Inv traded Hudson Pacific Properties Inc. shares for $24.63 each. Upon closing the transaction, the insider’s holdings decreased to 14,671 shares, worth approximately $0.69 million.
As published in a research note from Citigroup on September 19, 2022, Hudson Pacific Properties Inc. [HPP] has been rated down from a Buy to a Neutral and the price target has been revised to $13. This represents a 9.38% premium over Thursday’s closing price. Analysts at Morgan Stanley upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in early September. As of June 23, 2022, Credit Suisse has initiated its “an Underperform” rating for HPP. Earlier on June 22, 2022, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for HPP stock which previously was a “a Buy”.
Analyzing HPP’s Price Performance
On Thursday, Hudson Pacific Properties Inc. [NYSE: HPP] rose 0.60% to $11.78. The stock’s lowest price that day was $11.305, but it reached a high of $11.87 in the same session. During the last five days, there has been a drop of approximately -10.21%. Over the course of the year, Hudson Pacific Properties Inc. shares have dropped approximately -52.33%. Shares of the company reached a 52-week high of $28.66 on 03/30/22 and a 52-week low of $11.31 on 09/22/22. A 50-day SMA is recorded $14.05, while a 200-day SMA reached $20.85. Nevertheless, trading volume fell to 4.2 million shares from 2.94 million shares the previous day.
Support And Resistance Levels for Hudson Pacific Properties Inc. (HPP)
According to the 24-hour chart, there is a support level at 11.43, which, if violated, would cause prices to drop to 11.09. In the upper region, resistance lies at 12.00. The next price resistance is at 12.22. RSI (Relative Strength Index) is 28.39 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.27, which suggests the price will decrease in the coming days. Percent R is at 85.88%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Hudson Pacific Properties Inc. subject to short interest?
Stocks of Hudson Pacific Properties Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 20000.0 shares to 6.88 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.86 million shares. A jump of 0.29% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.53 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.53.
Which companies own the most shares of Hudson Pacific Properties Inc. (HPP)?
According to The Vanguard Group, Inc. filings, the company currently owns 20,518,029 shares, which is about 14.48% of the total HPP shares outstanding. The investor’s shares have plunged by -1,328,727 from its previous 13-F filing of 21846756.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $177,211,278. Norges Bank Investment Management acquire a 12.59% interest valued at $120.96 million while SSgA Funds Management, Inc. sold a -445,398 stake. A total of -523,397 shares of Hudson Pacific Properties Inc. were sold by PGGM Vermogensbeheer BV during the quarter, and 0 by Canada Pension Plan Investment Bo. In its current portfolio, Goldman Sachs Asset Management LP holds 3,836,868 shares valued at $50.69 million.
In terms of Hudson Pacific Properties Inc. share price expectations, FactSet research, analysts set an average price target of $18.79 in the next 12 months, up nearly 40.91% from the previous closing price of $11.71. Analysts anticipate Hudson Pacific Properties Inc. stock to reach $40.00 by 2022, with the lowest price target being $13.00. In spite of this, 14 analysts ranked Hudson Pacific Properties Inc. stock as a Hold at the end of 2022. On January 20, 2022, Mizuho assigned a price target of “an Underperform” to the stock and downgraded coverage with a $24.50.