Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CFO Sells 5,000 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the completion of the transaction, the chief financial officer now owns 88,322 shares in the company, valued at $2,991,466.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Navam Welihinda also recently made the following trade(s):

• On Monday, July 22nd, Navam Welihinda sold 5,000 shares of HashiCorp stock. The stock was sold at an average price of $33.50, for a total value of $167,500.00.
• On Monday, June 24th, Navam Welihinda sold 17,397 shares of HashiCorp stock. The stock was sold at an average price of $33.47, for a total value of $582,277.59.
• On Thursday, June 20th, Navam Welihinda sold 18,271 shares of HashiCorp stock. The shares were sold at an average price of $33.26, for a total value of $607,693.46.

HashiCorp Trading Up 0.1 %

HCP stock opened at $33.90 on Friday. The business has a 50 day simple moving average of $33.62 and a 200-day simple moving average of $30.30. HashiCorp, Inc. has a twelve month low of $18.91 and a twelve month high of $34.05. The company has a market capitalization of $6.82 billion, a P/E ratio of -35.31 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 analysts’ consensus estimates 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 company had revenue of $160.58 million for the quarter, compared to analyst estimates of $153.39 million. Research analysts predict that HashiCorp, Inc. will post -0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Thursday, June 6th. StockNews.com started coverage on HashiCorp in a report on Monday, August 19th. They set a “hold” rating on the stock. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HCP. Water Island Capital LLC acquired a new position in HashiCorp during the 2nd quarter worth approximately $37,762,000. Algert Global LLC boosted its position in shares of HashiCorp by 13.6% during the 2nd quarter. Algert Global LLC now owns 75,676 shares of the company’s stock worth $2,550,000 after purchasing an additional 9,036 shares in the last quarter. Murchinson Ltd. acquired a new position in shares of HashiCorp during the 2nd quarter worth $3,369,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of HashiCorp in the 2nd quarter valued at about $5,384,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of HashiCorp by 27.3% in the second quarter. The Manufacturers Life Insurance Company now owns 30,381 shares of the company’s stock valued at $1,024,000 after purchasing an additional 6,506 shares during the period. 87.83% of the stock is currently owned by hedge funds and other 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.