Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CFO Sells 5,000 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 5,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total transaction of $169,350.00. Following the sale, the chief financial officer now owns 88,322 shares in the company, valued at $2,991,466.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, July 22nd, Navam Welihinda sold 5,000 shares of HashiCorp stock. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00.
• On Monday, June 24th, Navam Welihinda sold 17,397 shares of HashiCorp stock. The shares were sold at an average price of $33.47, for a total transaction of $582,277.59.
• 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 value of $607,693.46.

HashiCorp Price Performance

Shares of NASDAQ HCP traded up $0.03 during mid-day trading on Friday, reaching $33.90. 1,682,910 shares of the company’s stock traded hands, compared to its average volume of 3,454,025. The business has a 50-day simple moving average of $33.62 and a 200 day simple moving average of $30.30. The stock has a market cap of $6.82 billion, a P/E ratio of -35.31 and a beta of 1.25. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $34.05.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. The business had revenue of $160.58 million for the quarter, compared to analysts’ expectations of $153.39 million. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. Equities research analysts anticipate that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HCP has been the topic of a number of research reports. StockNews.com assumed coverage on shares of HashiCorp in a research note on Monday. They set a “hold” rating on the stock. Piper Sandler boosted their price objective on HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Scotiabank reiterated a “sector perform” rating and issued a $35.00 target price (up from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Thursday, June 6th. Finally, Truist Financial reiterated a “hold” rating and issued a $35.00 price objective (up previously from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.17.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Water Island Capital LLC purchased a new stake in shares of HashiCorp in the second quarter valued at about $37,762,000. Algert Global LLC grew its position in HashiCorp by 13.6% in the 2nd quarter. Algert Global LLC now owns 75,676 shares of the company’s stock worth $2,550,000 after purchasing an additional 9,036 shares in the last quarter. Murchinson Ltd. purchased a new stake in HashiCorp in the 2nd quarter valued at about $3,369,000. Susquehanna Fundamental Investments LLC bought a new position in shares of HashiCorp during the 2nd quarter worth approximately $5,384,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of HashiCorp by 27.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,381 shares of the company’s stock worth $1,024,000 after buying an additional 6,506 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.