Navam Welihinda Sells 3,000 Shares of HashiCorp, Inc. (NASDAQ:HCP) Stock

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 3,000 shares of the business’s 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 sale, the chief financial officer now owns 93,925 shares of the company’s stock, valued at $2,614,872. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were 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 shares were 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 Stock Performance

HashiCorp stock traded up $2.26 during midday trading on Wednesday, hitting $31.41. 22,745,055 shares of the company’s stock were exchanged, compared to its average volume of 2,721,235. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $36.39. The company has a market cap of $6.27 billion, a PE ratio of -32.05 and a beta of 1.42. The firm has a 50-day moving average of $25.73 and a two-hundred day moving average of $23.30.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of HashiCorp from a “sell” rating to a “hold” rating in a research report on Monday. Needham & Company LLC upped their price target on shares of HashiCorp from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Oppenheimer reissued an “outperform” rating and issued a $34.00 target price on shares of HashiCorp in a research note on Wednesday, March 6th. Scotiabank raised shares of HashiCorp from a “sector perform” rating to a “sector outperform” rating and set a $31.00 target price on the stock in a research note on Tuesday, March 12th. Finally, Citigroup raised their price target 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 research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, HashiCorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.08.

Institutional Trading of HashiCorp

Institutional investors have recently modified their holdings of the company. Ronald Blue Trust Inc. boosted its holdings in shares of HashiCorp by 327.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock valued at $47,000 after buying an additional 1,570 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after buying an additional 615 shares in the last quarter. Industry Ventures L.L.C. purchased a new position in shares of HashiCorp in the 4th quarter valued at approximately $157,000. Victory Capital Management Inc. raised its position in shares of HashiCorp by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after purchasing an additional 2,768 shares during the last quarter. Finally, Xponance Inc. raised its position in shares of HashiCorp by 6.7% in the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after purchasing an additional 673 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors.

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.