Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CTO Sells 35,904 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $33.85, for a total transaction of $1,215,350.40. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,452,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Armon Dadgar also recently made the following trade(s):

• On Friday, August 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.71, for a total transaction of $1,210,323.84.
• On Monday, July 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.50, for a total value of $1,202,784.00.
• On Tuesday, July 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.64, for a total value of $1,207,810.56.
• On Monday, June 24th, Armon Dadgar sold 21,137 shares of HashiCorp stock. The shares were sold at an average price of $33.48, for a total value of $707,666.76.
• On Thursday, June 20th, Armon Dadgar sold 18,349 shares of HashiCorp stock. The stock was sold at an average price of $33.26, for a total value of $610,287.74.
• On Monday, June 3rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.65, for a total transaction of $1,208,169.60.

HashiCorp Trading Up 0.1 %

Shares of HCP stock traded up $0.03 during trading hours on Friday, reaching $33.90. The stock had a trading volume of 1,682,910 shares, compared to its average volume of 3,454,025. The stock’s fifty day simple moving average is $33.62 and its 200 day simple moving average is $30.30. The firm has a market capitalization of $6.82 billion, a PE ratio of -35.31 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 posted its earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts anticipate that HashiCorp, Inc. will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On HashiCorp

Several large investors have recently added to or reduced their stakes in HCP. American Capital Advisory LLC purchased a new stake in HashiCorp in the second quarter valued at approximately $40,000. Advisors Asset Management Inc. increased its holdings in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares during the last quarter. Covestor Ltd raised its position in shares of HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after buying an additional 3,480 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after acquiring an additional 3,505 shares during the last quarter. Finally, Industry Ventures L.L.C. bought a new position in HashiCorp in the fourth quarter valued at $157,000. Institutional investors own 87.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of HashiCorp in a research report on Thursday, April 25th. Piper Sandler lifted their price target on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Scotiabank reissued a “sector perform” rating and set a $35.00 price objective (up from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. Truist Financial reissued a “hold” rating and issued a $35.00 target price (up from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. Finally, StockNews.com began coverage on HashiCorp in a research report on Monday. They set a “hold” rating on the stock. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $31.17.

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.