HashiCorp, Inc. (NASDAQ:HCP) CFO Sells $582,277.59 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 17,397 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $33.47, for a total transaction of $582,277.59. Following the transaction, the chief financial officer now owns 95,485 shares in the company, valued at $3,195,882.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, June 20th, Navam Welihinda sold 18,271 shares of HashiCorp stock. The stock was sold at an average price of $33.26, for a total transaction of $607,693.46.
• On Wednesday, May 22nd, Navam Welihinda sold 5,000 shares of HashiCorp stock. The stock was sold at an average price of $33.34, for a total transaction of $166,700.00.
• On Tuesday, April 23rd, Navam Welihinda sold 3,000 shares of HashiCorp stock. The stock was sold at an average price of $27.84, for a total transaction of $83,520.00.

HashiCorp Trading Up 0.6 %

Shares of NASDAQ:HCP opened at $33.69 on Friday. The company has a fifty day simple moving average of $32.97 and a 200 day simple moving average of $27.25. The firm has a market cap of $6.77 billion, a PE ratio of -35.09 and a beta of 1.25. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $34.05.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. The business had revenue of $160.58 million during the quarter, compared to analyst estimates of $153.39 million. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. As a group, equities research analysts forecast that HashiCorp, Inc. will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds have recently added to or reduced their stakes in the business. Comerica Bank boosted its holdings in HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after purchasing an additional 374 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of HashiCorp by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after acquiring an additional 420 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after acquiring an additional 961 shares during the period. Arizona State Retirement System boosted its holdings in shares of HashiCorp by 6.6% during the fourth quarter. Arizona State Retirement System now owns 28,111 shares of the company’s stock valued at $665,000 after acquiring an additional 1,750 shares during the period. Finally, Renaissance Capital LLC boosted its holdings in shares of HashiCorp by 3.0% during the first quarter. Renaissance Capital LLC now owns 63,964 shares of the company’s stock valued at $1,724,000 after acquiring an additional 1,857 shares during the period. Institutional investors and hedge funds own 87.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. William Blair downgraded shares of HashiCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 24th. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Thursday, June 6th. Truist Financial reissued a “hold” rating and set a $35.00 target price (up previously from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. TD Cowen increased their price objective on shares of HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Finally, Bank of America lifted their price objective on shares of HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.17.

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.