Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $1,174,778.88 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $32.72, for a total value of $1,174,778.88. Following the completion of the sale, the chief technology officer now directly owns 1,589,356 shares of the company’s stock, valued at approximately $52,003,728.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, April 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $24.31, for a total value of $872,826.24.
• On Tuesday, April 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $25.69, for a total transaction 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 transaction of $280,500.99.
• On Thursday, February 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $21.82, for a total transaction of $783,425.28.

HashiCorp Price Performance

Shares of HashiCorp stock opened at $32.81 on Thursday. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $36.39. The company has a market capitalization of $6.55 billion, a PE ratio of -33.48 and a beta of 1.25. The business has a 50-day moving average of $27.50 and a 200-day moving average of $24.09.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $155.78 million during the quarter, compared to the consensus estimate of $149.47 million. On average, equities analysts expect that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HCP shares. Stifel Nicolaus upped their price objective on HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. BTIG Research downgraded HashiCorp from a “buy” rating to a “neutral” rating in a report on Wednesday, April 24th. Morgan Stanley upgraded HashiCorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $23.00 to $30.00 in a report on Monday, February 26th. KeyCorp began coverage on shares of HashiCorp in a report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Finally, Truist Financial reaffirmed a “hold” rating and set a $35.00 price target (up from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.77.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HCP. Connor Clark & Lunn Investment Management Ltd. bought a new stake in HashiCorp in the third quarter valued at $309,000. Qsemble Capital Management LP acquired a new position in HashiCorp during the 3rd quarter valued at about $1,119,000. Artemis Investment Management LLP acquired a new position in HashiCorp during the 4th quarter valued at about $7,124,000. Vanguard Group Inc. grew its position in HashiCorp by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock worth $221,976,000 after purchasing an additional 455,179 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of HashiCorp in the third quarter valued at approximately $491,000. Institutional investors and hedge funds 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.