Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $1,197,039.36 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $33.34, for a total value of $1,197,039.36. Following the completion of the transaction, the chief technology officer now owns 1,553,452 shares in the company, valued at approximately $51,792,089.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, May 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $32.72, for a total value of $1,174,778.88.
• 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 transaction of $872,826.24.
• 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 stock was sold at an average price of $27.39, for a total value of $280,500.99.

HashiCorp Price Performance

Shares of HCP opened at $33.39 on Friday. The business’s 50-day moving average is $29.19 and its 200-day moving average is $25.19. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of -34.07 and a beta of 1.25. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $36.39.

HashiCorp (NASDAQ:HCP) last released 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 analyst estimates of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. Equities research analysts expect that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its position in HashiCorp by 35.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after acquiring an additional 615 shares in the last quarter. Advisors Asset Management Inc. lifted its stake 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 valued at $86,000 after purchasing an additional 961 shares during the last quarter. Covestor Ltd boosted its holdings in HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after purchasing an additional 3,480 shares in the last quarter. Industry Ventures L.L.C. bought a new stake in HashiCorp in the fourth quarter worth $157,000. Finally, Victory Capital Management Inc. increased its position in HashiCorp by 35.5% during the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after buying an additional 2,768 shares during the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of HashiCorp in a research report on Thursday, April 25th. William Blair lowered shares of HashiCorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 24th. Piper Sandler lifted their target price on HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Oppenheimer reissued an “outperform” rating and set a $34.00 target price on shares of HashiCorp in a research note on Wednesday, March 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $38.00 price objective on shares of HashiCorp in a report on Thursday, March 7th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, HashiCorp has a consensus rating of “Hold” and a consensus price target of $30.77.

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.