Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CTO Sells 21,137 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 21,137 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $33.48, for a total transaction of $707,666.76. Following the completion of the sale, the chief technology officer now owns 23,234 shares of the company’s stock, valued at $777,874.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, June 20th, Armon Dadgar sold 18,349 shares of HashiCorp stock. The shares were sold at an average price of $33.26, for a total transaction of $610,287.74.
• On Monday, June 3rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.65, for a total transaction of $1,208,169.60.
• On Wednesday, May 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.34, for a total transaction of $1,197,039.36.
• On Thursday, May 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $32.72, for a total transaction 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 stock was sold at an average price of $25.69, for a total transaction of $922,373.76.

HashiCorp Price Performance

Shares of NASDAQ HCP traded up $0.05 during midday trading on Wednesday, hitting $33.49. The company’s stock had a trading volume of 1,491,851 shares, compared to its average volume of 3,753,128. The business’s fifty day simple moving average is $32.58 and its two-hundred day simple moving average is $27.11. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $34.05. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of -34.89 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.02. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. The business had revenue of $160.58 million during the quarter, compared to analyst estimates of $153.39 million. Analysts anticipate that HashiCorp, Inc. will post -0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HCP. Comerica Bank lifted its stake in HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after acquiring an additional 374 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in HashiCorp by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock worth $1,020,000 after acquiring an additional 420 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after acquiring an additional 961 shares during the last quarter. Arizona State Retirement System raised its holdings in HashiCorp by 6.6% during the fourth quarter. Arizona State Retirement System now owns 28,111 shares of the company’s stock worth $665,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Renaissance Capital LLC lifted its position in shares of HashiCorp by 3.0% during the 1st quarter. Renaissance Capital LLC now owns 63,964 shares of the company’s stock worth $1,724,000 after buying an additional 1,857 shares during the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of HashiCorp in a research report on Thursday, April 25th. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Thursday, June 6th. Oppenheimer restated an “outperform” rating and set a $34.00 price objective on shares of HashiCorp in a research report on Wednesday, March 6th. 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 research report on Wednesday, March 6th. Finally, Bank of America increased their target price on shares of HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, HashiCorp currently has a consensus rating of “Hold” and an average target price of $31.17.

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.