Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CFO Sells 3,000 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 3,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $27.84, for a total transaction of $83,520.00. Following the transaction, the chief financial officer now directly owns 93,925 shares of the company’s stock, valued at $2,614,872. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, March 21st, Navam Welihinda sold 9,153 shares of HashiCorp stock. The shares were sold at an average price of $27.39, for a total transaction of $250,700.67.
• On Monday, February 26th, Navam Welihinda sold 2,500 shares of HashiCorp stock. The stock was sold at an average price of $25.00, for a total transaction of $62,500.00.
• On Thursday, February 22nd, Navam Welihinda sold 2,500 shares of HashiCorp stock. The stock was sold at an average price of $21.84, for a total transaction of $54,600.00.
• On Friday, February 9th, Navam Welihinda sold 5,000 shares of HashiCorp stock. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00.

HashiCorp Trading Up 7.8 %

Shares of HashiCorp stock traded up $2.26 on Wednesday, hitting $31.41. 22,745,055 shares of the company traded hands, compared to its average volume of 2,721,235. The firm’s 50-day simple moving average is $25.73 and its 200 day simple moving average is $23.30. The company has a market cap of $6.27 billion, a P/E ratio of -32.05 and a beta of 1.42. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $36.39.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data 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 firm had revenue of $155.78 million for the quarter, compared to analysts’ expectations of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. Analysts predict that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on HCP shares. Piper Sandler reaffirmed a “neutral” rating and issued a $25.00 price objective (up from $22.00) on shares of HashiCorp in a report on Wednesday, March 6th. Needham & Company LLC raised their price objective on shares of HashiCorp from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, March 4th. KeyCorp started coverage on shares of HashiCorp in a report on Tuesday, March 19th. They issued a “sector weight” rating for the company. TD Cowen raised their price objective on shares of HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Finally, Citigroup increased their target price on shares of HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 22nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.08.

Institutional Trading of HashiCorp

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ronald Blue Trust Inc. raised its position in HashiCorp by 327.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock worth $47,000 after purchasing an additional 1,570 shares during the period. Nomura Asset Management Co. Ltd. raised its position in HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after purchasing an additional 615 shares during the period. Industry Ventures L.L.C. purchased a new position in HashiCorp in the 4th quarter worth $157,000. Victory Capital Management Inc. raised its position in HashiCorp by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after purchasing an additional 2,768 shares during the period. Finally, Xponance Inc. raised its position in HashiCorp by 6.7% in the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after purchasing an additional 673 shares during the period. Hedge funds and other institutional investors own 87.83% of the company’s stock.

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.