HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $872,826.24 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $24.31, for a total transaction of $872,826.24. Following the completion of the sale, the chief technology officer now directly owns 1,625,260 shares of the company’s stock, valued at $39,510,070.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Armon Dadgar also recently made the following trade(s):

• On Tuesday, April 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $25.69, for a total transaction of $922,373.76.
• On Thursday, March 21st, Armon Dadgar sold 10,241 shares of HashiCorp stock. The shares were sold at an average price of $27.39, for a total transaction of $280,500.99.
• On Thursday, February 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $21.82, for a total transaction of $783,425.28.
• On Friday, February 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $23.02, for a total transaction of $826,510.08.

HashiCorp Price Performance

HCP stock opened at $31.41 on Thursday. The company’s 50 day simple moving average is $25.73 and its 200-day simple moving average is $23.30. The firm has a market capitalization of $6.27 billion, a PE ratio of -32.05 and a beta of 1.42. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $36.39.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.06. The business had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. As a group, sell-side analysts anticipate that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

Institutional Trading of HashiCorp

Large investors have recently modified their holdings of the business. Ronald Blue Trust Inc. boosted its position in HashiCorp by 327.8% during the third quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock worth $47,000 after acquiring an additional 1,570 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in HashiCorp by 35.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after acquiring an additional 615 shares during the last quarter. Industry Ventures L.L.C. acquired a new stake in HashiCorp during the fourth quarter worth approximately $157,000. Victory Capital Management Inc. boosted its position in HashiCorp by 35.5% during the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after acquiring an additional 2,768 shares during the last quarter. Finally, Xponance Inc. boosted its position in HashiCorp by 6.7% during the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after acquiring an additional 673 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley raised shares of HashiCorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $23.00 to $30.00 in a report on Monday, February 26th. Stifel Nicolaus increased their price target on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Needham & Company LLC increased their price target on shares of HashiCorp from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Citigroup increased their price target on shares of HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, January 22nd. Finally, BTIG Research cut shares of HashiCorp from a “buy” rating to a “neutral” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $29.08.

HashiCorp Company Profile

HashiCorp, Inc engages in the provision of multi-cloud infrastructure automation solutions worldwide. The company offers infrastructure provisioning products, including Terraform, that enables IT operations teams to apply an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; Packer, that provides a consistent way to define the process of transforming the raw source inputs into a production worthy artifact, across any environment or packaging format; and Vagrant, that allows teams to define how development environments are set up.