HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar Sells 35,904 Shares

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $24.31, for a total value of $872,826.24. Following the sale, the chief technology officer now directly owns 1,625,260 shares in the company, valued at approximately $39,510,070.60. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

HashiCorp Stock Performance

NASDAQ HCP opened at $31.41 on Thursday. The stock has a 50-day simple moving average of $25.73 and a two-hundred day simple moving average of $23.30. The firm has a market capitalization of $6.27 billion, a P/E ratio of -32.05 and a beta of 1.42. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $36.39.

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

Hedge Funds Weigh In On HashiCorp

Institutional investors have recently modified their holdings of the stock. TimesSquare Capital Management LLC acquired a new stake in shares of HashiCorp during the 3rd quarter valued at about $55,774,000. Atreides Management LP acquired a new stake in shares of HashiCorp during the 3rd quarter valued at about $31,413,000. Artemis Investment Management LLP grew its position in shares of HashiCorp by 416.0% during the 1st quarter. Artemis Investment Management LLP now owns 1,555,104 shares of the company’s stock valued at $41,891,000 after acquiring an additional 1,253,723 shares during the period. Vanguard Group Inc. grew its position in shares of HashiCorp by 10.3% during the 4th quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock valued at $253,484,000 after acquiring an additional 999,671 shares during the period. Finally, Optimus Prime Fund Management Co. Ltd. grew its position in shares of HashiCorp by 50.0% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after acquiring an additional 949,100 shares during the period. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analyst Ratings Changes

HCP has been the subject of a number of recent analyst reports. Citigroup raised their price objective on HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 22nd. KeyCorp initiated coverage on HashiCorp in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Bank of America raised their price objective on HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com raised HashiCorp from a “sell” rating to a “hold” rating in a research report on Monday. Finally, BTIG Research lowered HashiCorp from a “buy” rating to a “neutral” rating in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.