Sigal Zarmi Sells 4,350 Shares of HashiCorp, Inc. (NASDAQ:HCP) Stock

HashiCorp, Inc. (NASDAQ:HCP) Director Sigal Zarmi sold 4,350 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total value of $130,500.00. Following the sale, the director now owns 37,991 shares of the company’s stock, valued at approximately $1,139,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

HashiCorp Stock Down 0.7 %

Shares of HCP opened at $32.59 on Friday. The firm has a market cap of $6.50 billion, a PE ratio of -33.25 and a beta of 1.42. The company’s fifty day moving average is $26.08 and its two-hundred day moving average is $23.44. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $36.39.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share 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, equities research analysts anticipate that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HCP. Stifel Nicolaus upped their target price on shares of HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. JMP Securities reiterated a “market outperform” rating and set a $38.00 target price on shares of HashiCorp in a research note on Thursday, March 7th. BTIG Research downgraded shares of HashiCorp from a “buy” rating to a “neutral” rating in a research note on Wednesday. Scotiabank reiterated a “sector perform” rating and set a $35.00 target price (up previously from $31.00) on shares of HashiCorp in a research note on Thursday. Finally, Piper Sandler increased their target price on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, HashiCorp currently has an average rating of “Hold” and an average target price of $30.77.

Institutional Investors Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Peregrine Capital Management LLC increased its stake in HashiCorp by 5.3% during the 1st quarter. Peregrine Capital Management LLC now owns 270,064 shares of the company’s stock worth $7,278,000 after buying an additional 13,669 shares during the period. Diversified Trust Co bought a new stake in shares of HashiCorp in the 1st quarter worth about $416,000. Artemis Investment Management LLP increased its position in shares of HashiCorp by 416.0% in the 1st quarter. Artemis Investment Management LLP now owns 1,555,104 shares of the company’s stock worth $41,891,000 after purchasing an additional 1,253,723 shares during the last quarter. Renaissance Capital LLC increased its position in shares of HashiCorp by 3.0% in the 1st quarter. Renaissance Capital LLC now owns 63,964 shares of the company’s stock worth $1,724,000 after purchasing an additional 1,857 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of HashiCorp by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock worth $253,484,000 after purchasing an additional 999,671 shares during the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

About HashiCorp

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.