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 business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $33.26, for a total transaction of $1,598,309.30. Following the completion of the sale, the chief executive officer now directly owns 373,330 shares of the company’s stock, valued at $12,416,955.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

HashiCorp Stock Down 0.1 %

Shares of HashiCorp stock opened at $33.44 on Wednesday. The stock has a market capitalization of $6.72 billion, a P/E ratio of -34.83 and a beta of 1.25. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $34.05. The company has a 50-day simple moving average of $32.38 and a 200 day simple moving average of $27.07.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. The firm had revenue of $160.58 million during the quarter, compared to analysts’ expectations of $153.39 million. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. On average, equities analysts anticipate that HashiCorp, Inc. will post -0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HCP shares. KeyCorp started coverage on shares of HashiCorp in a report on Tuesday, March 19th. They set a “sector weight” rating for the company. BTIG Research downgraded shares of HashiCorp from a “buy” rating to a “neutral” rating in a report on Wednesday, April 24th. Piper Sandler upped their price objective on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Thursday, June 6th. Finally, Bank of America increased their price target on shares of HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. 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 has an average rating of “Hold” and a consensus price target of $31.17.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of HashiCorp in the 3rd quarter valued at about $309,000. Charles Schwab Investment Management Inc. boosted its stake in HashiCorp by 11.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock worth $14,821,000 after acquiring an additional 63,879 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in HashiCorp by 10.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock worth $63,775,000 after acquiring an additional 254,720 shares during the last quarter. Artemis Investment Management LLP bought a new position in HashiCorp during the 4th quarter worth approximately $7,124,000. Finally, Contour Asset Management LLC bought a new position in HashiCorp during the 4th quarter worth approximately $21,217,000. 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.