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 company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $33.34, for a total transaction of $1,197,039.36. Following the completion of the sale, the chief technology officer now directly owns 1,553,452 shares of the company’s stock, valued at approximately $51,792,089.68. The sale was disclosed in a 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 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 value 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 Stock Up 0.4 %

Shares of HashiCorp stock opened at $33.39 on Friday. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $36.39. The business’s 50 day moving average is $29.19 and its 200-day moving average is $25.19. The stock has a market cap of $6.66 billion, a P/E ratio of -34.07 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. On average, sell-side analysts expect that HashiCorp, Inc. will post -0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. KeyCorp began coverage on HashiCorp in a research note on Tuesday, March 19th. They set a “sector weight” rating for the company. Stifel Nicolaus raised their price objective on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of HashiCorp in a research note on Thursday, April 25th. Scotiabank reissued a “sector perform” rating and issued a $35.00 price target (up previously from $31.00) on shares of HashiCorp in a research note on Thursday, April 25th. Finally, StockNews.com began coverage on HashiCorp in a report on Tuesday, May 21st. They set a “hold” rating for the company. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.77.

Institutional Investors Weigh In On HashiCorp

Institutional investors have recently modified their holdings of the business. Comerica Bank increased its holdings in shares of HashiCorp by 2.1% during the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after purchasing an additional 374 shares during the period. Treasurer of the State of North Carolina increased 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 valued at $1,020,000 after acquiring an additional 420 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in HashiCorp by 35.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after purchasing an additional 615 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of HashiCorp by 8.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,302 shares of the company’s stock worth $281,000 after buying an additional 918 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares in the last quarter. Institutional investors own 87.83% of the company’s stock.

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.