HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $1,214,632.32 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $33.83, for a total value of $1,214,632.32. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,421,600. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Thursday, August 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.85, for a total value of $1,215,350.40.
• On Friday, August 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.71, for a total value of $1,210,323.84.
• On Monday, July 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.50, for a total transaction of $1,202,784.00.
• On Tuesday, July 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.64, for a total transaction of $1,207,810.56.
• On Monday, June 24th, Armon Dadgar sold 21,137 shares of HashiCorp stock. The stock was sold at an average price of $33.48, for a total transaction of $707,666.76.
• 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 value of $610,287.74.

HashiCorp Trading Down 0.2 %

HCP stock opened at $33.65 on Friday. The stock has a market capitalization of $6.77 billion, a PE ratio of -35.05 and a beta of 1.25. The stock’s 50 day simple moving average is $33.68 and its 200 day simple moving average is $30.99. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $34.05.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.60% and a negative net margin of 23.69%. The company had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same period last year, the firm posted ($0.34) earnings per share. HashiCorp’s revenue was up 15.3% compared to the same quarter last year. On average, research analysts predict that HashiCorp, Inc. will post -0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HCP. Whale Rock Capital Management LLC lifted its holdings in HashiCorp by 293.2% in the first quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock valued at $123,046,000 after acquiring an additional 3,404,557 shares during the period. Pentwater Capital Management LP bought a new position in shares of HashiCorp in the 2nd quarter worth approximately $91,654,000. Magnetar Financial LLC bought a new position in shares of HashiCorp in the 2nd quarter worth approximately $71,490,000. Champlain Investment Partners LLC purchased a new position in shares of HashiCorp in the first quarter worth approximately $48,995,000. Finally, Vanguard Group Inc. grew its position in HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after buying an additional 1,501,953 shares during the period. 87.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com initiated coverage on HashiCorp in a research report on Friday. They issued a “hold” rating for the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Thursday, June 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup initiated coverage on shares of HashiCorp in a research report on Tuesday. They set a “neutral” rating and a $35.00 price target for the company. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.08.

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.