David Mcjannet Sells 48,055 Shares of HashiCorp, Inc. (NASDAQ:HCP) Stock

HashiCorp, Inc. (NASDAQ:HCP) CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $1,626,181.20. Following the sale, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at $14,196,929.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

HashiCorp Stock Performance

NASDAQ:HCP opened at $33.84 on Thursday. The company has a market capitalization of $6.80 billion, a P/E ratio of -35.25 and a beta of 1.25. The stock’s 50 day moving average price is $33.75 and its 200 day moving average price is $31.85. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $34.06.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The business had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. During the same quarter last year, the firm earned ($0.34) EPS. HashiCorp’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, sell-side analysts forecast that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on HCP shares. Piper Sandler restated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. StockNews.com initiated coverage on shares of HashiCorp in a research note on Tuesday. They issued a “hold” rating for the company. Finally, Citigroup initiated coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.08.

Hedge Funds Weigh In On HashiCorp

Several institutional investors have recently bought and sold shares of HCP. Victory Capital Management Inc. grew its holdings in HashiCorp by 28.8% during the fourth quarter. Victory Capital Management Inc. now owns 13,622 shares of the company’s stock valued at $322,000 after purchasing an additional 3,046 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in HashiCorp by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after buying an additional 63,879 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in HashiCorp by 9.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,049,009 shares of the company’s stock worth $24,799,000 after acquiring an additional 92,586 shares during the period. Hsbc Holdings PLC grew its position in shares of HashiCorp by 569.4% in the fourth quarter. Hsbc Holdings PLC now owns 99,235 shares of the company’s stock valued at $2,373,000 after purchasing an additional 84,410 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of 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 valued at $1,020,000 after purchasing an additional 420 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors.

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.