Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CTO Sells 35,904 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $33.80, for a total transaction of $1,213,555.20. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,376,000. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, September 20th, Armon Dadgar sold 22,779 shares of HashiCorp stock. The shares were sold at an average price of $33.84, for a total transaction of $770,841.36.
• On Tuesday, September 3rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.83, for a total value of $1,214,632.32.
• On Thursday, August 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was 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 transaction 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 value of $1,207,810.56.

HashiCorp Price Performance

HCP stock opened at $33.90 on Friday. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $34.06. The stock has a market capitalization of $6.82 billion, a PE ratio of -35.28 and a beta of 1.25. The company’s 50-day moving average is $33.76 and its 200-day moving average is $31.87.

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 10.54% and a negative net margin of 23.69%. The firm had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, analysts anticipate that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after acquiring an additional 1,501,953 shares during the last quarter. Whale Rock Capital Management LLC raised its stake in shares of HashiCorp by 293.2% in the first quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after purchasing an additional 3,404,557 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in shares of HashiCorp by 53.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock valued at $89,985,000 after purchasing an additional 1,161,600 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. boosted its position in shares of HashiCorp by 50.0% during the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after buying an additional 949,100 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in HashiCorp by 35.7% during the fourth quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock worth $64,350,000 after buying an additional 716,574 shares in the last quarter. Institutional investors and hedge funds 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.