Traders Purchase Large Volume of Call Options on Hudson Pacific Properties (NYSE:HPP)

Hudson Pacific Properties, Inc. (NYSE:HPP - Get Free Report) saw some unusual options trading on Thursday. Traders acquired 5,334 call options on the company. This is an increase of approximately 460% compared to the typical daily volume of 953 call options.

Analysts Set New Price Targets

Several research analysts have recently commented on HPP shares. Bank of America decreased their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an "underperform" rating on the stock in a research note on Thursday, August 22nd. Piper Sandler decreased their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Jefferies Financial Group lowered shares of Hudson Pacific Properties from a "buy" rating to a "hold" rating and dropped their price target for the stock from $5.50 to $5.00 in a research report on Tuesday, November 12th. Wells Fargo & Company reduced their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an "equal weight" rating for the company in a research note on Wednesday, September 11th. Finally, Scotiabank lowered their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a "sector perform" rating on the stock in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Hudson Pacific Properties presently has an average rating of "Hold" and an average target price of $6.17.

Hudson Pacific Properties Price Performance

HPP stock traded up $0.01 during mid-day trading on Thursday, hitting $2.61. The company had a trading volume of 9,947,312 shares, compared to its average volume of 2,606,627. The company has a 50-day moving average price of $3.96 and a 200 day moving average price of $4.66. Hudson Pacific Properties has a 12-month low of $2.39 and a 12-month high of $9.85. The company has a market capitalization of $368.62 million, a price-to-earnings ratio of -1.25 and a beta of 1.27. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47.

Insider Buying and Selling at Hudson Pacific Properties

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the sale, the chief operating officer now directly owns 61,068 shares of the company's stock, valued at approximately $322,439.04. This represents a 13.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Victor J. Coleman purchased 50,000 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $2.87 per share, for a total transaction of $143,500.00. Following the purchase, the chief executive officer now directly owns 487,451 shares in the company, valued at approximately $1,398,984.37. The trade was a 11.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hudson Pacific Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its stake in Hudson Pacific Properties by 282.7% in the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust's stock worth $8,594,000 after acquiring an additional 1,319,869 shares during the last quarter. Scion Asset Management LLC purchased a new position in shares of Hudson Pacific Properties in the second quarter valued at $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Hudson Pacific Properties by 450.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust's stock worth $5,096,000 after purchasing an additional 872,538 shares during the last quarter. GSA Capital Partners LLP raised its stake in Hudson Pacific Properties by 1,822.5% during the third quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust's stock valued at $3,633,000 after purchasing an additional 720,549 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Hudson Pacific Properties by 13.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust's stock valued at $24,902,000 after purchasing an additional 630,932 shares during the last quarter. 97.58% of the stock is owned by institutional investors.

About Hudson Pacific Properties

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.