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 HashiCorp stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $24.31, for a total value of $872,826.24. Following the completion of the transaction, the chief technology officer now directly owns 1,625,260 shares of the company’s stock, valued at $39,510,070.60. The transaction was disclosed in a legal filing with the SEC, which is available through 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 shares were 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 shares were 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 shares were sold at an average price of $23.02, for a total value of $826,510.08.

HashiCorp Trading Up 7.8 %

Shares of HashiCorp stock traded up $2.26 during trading hours on Wednesday, hitting $31.41. 22,745,055 shares of the company were exchanged, compared to its average volume of 2,721,235. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $36.39. The business has a 50-day moving average of $25.59 and a 200-day moving average of $23.25. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of -32.41 and a beta of 1.42.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on HCP shares. TD Cowen boosted their price objective on HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Piper Sandler reissued a “neutral” rating and set a $25.00 price objective (up from $22.00) on shares of HashiCorp in a research report on Wednesday, March 6th. Bank of America upped their price target on HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday. KeyCorp initiated coverage on HashiCorp in a report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Finally, Scotiabank raised HashiCorp from a “sector perform” rating to a “sector outperform” rating and set a $31.00 price target for the company in a report on Tuesday, March 12th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.08.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in HashiCorp in the third quarter valued at $309,000. Qsemble Capital Management LP acquired a new stake in HashiCorp in the third quarter valued at $1,119,000. Artemis Investment Management LLP acquired a new stake in HashiCorp in the fourth quarter valued at $7,124,000. Vanguard Group Inc. boosted its stake in shares of HashiCorp by 4.9% during the third quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after acquiring an additional 455,179 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of HashiCorp during the third quarter valued at $491,000. 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.