HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar Sells 35,904 Shares

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $24.31, for a total value of $872,826.24. Following the sale, the chief technology officer now directly owns 1,625,260 shares in the company, valued at approximately $39,510,070.60. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was 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.
• 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 value of $783,425.28.
• On Friday, February 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $23.02, for a total value of $826,510.08.

HashiCorp Trading Up 7.8 %

HashiCorp stock traded up $2.26 during midday trading on Wednesday, reaching $31.41. The stock had a trading volume of 22,745,055 shares, compared to its average volume of 2,721,235. The company has a fifty day moving average price of $25.59 and a two-hundred day moving average price of $23.25. The company has a market capitalization of $6.27 billion, a P/E ratio of -32.41 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 released its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating 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 company had revenue of $155.78 million during the quarter, compared to analyst estimates of $149.47 million. On average, equities research analysts predict that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HashiCorp

Institutional investors have recently made changes to their positions in the stock. Diversified Trust Co bought a new position in HashiCorp in the first quarter valued at $416,000. Artemis Investment Management LLP boosted its holdings in shares of HashiCorp by 416.0% during the first quarter. Artemis Investment Management LLP now owns 1,555,104 shares of the company’s stock worth $41,891,000 after purchasing an additional 1,253,723 shares during the period. Renaissance Capital LLC boosted its holdings in shares of HashiCorp by 3.0% during the first quarter. Renaissance Capital LLC now owns 63,964 shares of the company’s stock worth $1,724,000 after purchasing an additional 1,857 shares during the period. Vanguard Group Inc. boosted its holdings in shares of HashiCorp by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock worth $253,484,000 after purchasing an additional 999,671 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. purchased a new stake in HashiCorp in the fourth quarter worth about $2,359,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. StockNews.com upgraded HashiCorp from a “sell” rating to a “hold” rating in a research report on Monday. TD Cowen boosted their target price on HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. BTIG Research downgraded HashiCorp from a “buy” rating to a “neutral” rating in a research report on Wednesday. Needham & Company LLC lifted their price objective on HashiCorp from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, JMP Securities reissued a “market outperform” rating and issued a $38.00 target price on shares of HashiCorp in a research note on Thursday, March 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, HashiCorp currently has a consensus rating of “Moderate Buy” and an average price target of $29.08.

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.