HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $707,666.76 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 21,137 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $33.48, for a total value of $707,666.76. Following the transaction, the chief technology officer now directly owns 23,234 shares in the company, valued at $777,874.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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.
• On Monday, June 3rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.65, for a total value of $1,208,169.60.
• On Wednesday, May 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.34, for a total transaction of $1,197,039.36.
• On Thursday, May 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was 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 transaction of $872,826.24.
• On Tuesday, April 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $25.69, for a total value of $922,373.76.

HashiCorp Stock Up 0.0 %

Shares of NASDAQ HCP opened at $33.50 on Friday. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of -34.90 and a beta of 1.25. The company’s 50-day simple moving average is $32.78 and its 200-day simple moving average is $27.16. HashiCorp, Inc. has a 52-week low of $18.91 and a 52-week high of $34.05.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share 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 firm had revenue of $160.58 million for the quarter, compared to analyst estimates of $153.39 million. Equities research analysts anticipate that HashiCorp, Inc. will post -0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in shares of HashiCorp by 43.0% in the first 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. Covestor Ltd lifted its stake in HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after purchasing an additional 3,480 shares in the last quarter. Industry Ventures L.L.C. acquired a new position in shares of HashiCorp during the 4th quarter worth approximately $157,000. Entropy Technologies LP purchased a new stake in shares of HashiCorp in the first quarter valued at approximately $311,000. Finally, SVB Wealth LLC purchased a new stake in shares of HashiCorp in the fourth quarter valued at approximately $273,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analyst Upgrades and Downgrades

HCP has been the subject of several research analyst reports. Oppenheimer restated an “outperform” rating and issued a $34.00 price objective on shares of HashiCorp in a research note on Wednesday, March 6th. Truist Financial restated a “hold” rating and issued a $35.00 target price (up previously from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. Bank of America lifted their price target on HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. William Blair lowered HashiCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler lifted their target price on shares of HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.17.

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.