HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda Sells 18,167 Shares

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 18,167 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $614,771.28. Following the sale, the chief financial officer now directly owns 105,883 shares of the company’s stock, valued at $3,583,080.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, August 22nd, Navam Welihinda sold 5,000 shares of HashiCorp stock. The stock was sold at an average price of $33.87, for a total transaction of $169,350.00.
• 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 transaction of $167,500.00.

HashiCorp Price Performance

NASDAQ HCP traded down $0.07 during trading hours on Monday, reaching $33.82. The company’s stock had a trading volume of 2,312,660 shares, compared to its average volume of 3,344,329. The stock has a market cap of $6.80 billion, a P/E ratio of -35.21 and a beta of 1.25. The firm has a fifty day simple moving average of $33.73 and a 200-day simple moving average of $31.73. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $34.06.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The company had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. HashiCorp’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) EPS. On average, research analysts expect that HashiCorp, Inc. will post -0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HCP. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. StockNews.com initiated coverage on shares of HashiCorp in a report on Wednesday, September 18th. They set a “hold” rating for the company. Citigroup initiated coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. Finally, JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.08.

Hedge Funds Weigh In On HashiCorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its position in shares of HashiCorp by 11.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after buying an additional 63,879 shares during the period. Swiss National Bank boosted its stake in HashiCorp by 11.8% in the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $5,972,000 after buying an additional 23,400 shares in the last quarter. Contour Asset Management LLC purchased a new stake in HashiCorp in the fourth quarter worth approximately $21,217,000. GGV Capital LLC boosted its stake in HashiCorp by 4.6% in the fourth quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock worth $15,579,000 after buying an additional 29,064 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of HashiCorp during the first quarter valued at approximately $1,070,000. 87.83% of the stock is 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.