Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CEO Sells 48,055 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $1,626,181.20. Following the completion of the transaction, the chief executive officer now owns 419,531 shares of the company’s stock, valued at $14,196,929.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

HashiCorp Stock Performance

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

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The firm had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. HashiCorp’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.34) earnings per share. As a group, equities analysts expect that HashiCorp, Inc. will post -0.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup assumed coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price for the company. 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. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, StockNews.com started coverage on HashiCorp in a research note on Wednesday, September 18th. They set a “hold” rating for the company. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HCP. American Capital Advisory LLC bought a new position in HashiCorp during the 2nd quarter worth approximately $40,000. Advisors Asset Management Inc. lifted its holdings in HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares during the last quarter. Covestor Ltd lifted its holdings in HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after buying an additional 3,480 shares during the last quarter. Quest Partners LLC lifted its holdings in HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of HashiCorp in the 2nd quarter worth approximately $208,000. Hedge funds and other 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.