Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CFO Sells 3,000 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 3,000 shares of HashiCorp stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $27.84, for a total value of $83,520.00. Following the completion of the transaction, the chief financial officer now owns 93,925 shares of the company’s stock, valued at $2,614,872. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Navam Welihinda also recently made the following trade(s):

• On Thursday, March 21st, Navam Welihinda sold 9,153 shares of HashiCorp stock. The stock was sold at an average price of $27.39, for a total value of $250,700.67.
• On Monday, February 26th, Navam Welihinda sold 2,500 shares of HashiCorp stock. The stock was sold at an average price of $25.00, for a total value of $62,500.00.
• On Thursday, February 22nd, Navam Welihinda sold 2,500 shares of HashiCorp stock. The stock was sold at an average price of $21.84, for a total value of $54,600.00.
• On Friday, February 9th, Navam Welihinda sold 5,000 shares of HashiCorp stock. The stock was sold at an average price of $25.00, for a total value of $125,000.00.

HashiCorp Stock Up 4.5 %

HashiCorp stock opened at $32.82 on Friday. The company’s fifty day simple moving average is $25.90 and its 200-day simple moving average is $23.37. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $36.39. The stock has a market cap of $6.55 billion, a P/E ratio of -33.49 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last posted 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. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. The business had revenue of $155.78 million for the quarter, compared to analysts’ expectations of $149.47 million. On average, equities research analysts expect that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on HCP shares. Scotiabank reiterated a “sector perform” rating and issued a $35.00 price target (up from $31.00) on shares of HashiCorp in a research note on Thursday. Citigroup raised their target price on shares of HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, January 22nd. JMP Securities reissued a “market outperform” rating and issued a $38.00 target price on shares of HashiCorp in a report on Thursday, March 7th. Stifel Nicolaus lifted their price target on HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of HashiCorp in a report on Thursday. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.77.

Institutional Investors Weigh In On HashiCorp

Several institutional investors and hedge funds have recently modified their holdings of HCP. Ronald Blue Trust Inc. lifted its stake in shares of HashiCorp by 327.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock valued at $47,000 after purchasing an additional 1,570 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after purchasing an additional 615 shares during the last quarter. Industry Ventures L.L.C. acquired a new stake in shares of HashiCorp in the 4th quarter valued at $157,000. Victory Capital Management Inc. lifted its stake in shares of HashiCorp by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after purchasing an additional 2,768 shares during the last quarter. Finally, Xponance Inc. lifted its position in HashiCorp by 6.7% during the 3rd 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. Institutional investors and hedge funds own 87.83% of the company’s stock.

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.