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 stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $33.80, for a total value of $1,213,555.20. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,376,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, September 20th, Armon Dadgar sold 22,779 shares of HashiCorp stock. The stock was sold at an average price of $33.84, for a total value 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 value of $1,210,323.84.
• On Monday, July 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.50, for a total value 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 Stock Performance

HashiCorp stock traded up $0.01 during midday trading on Wednesday, reaching $33.84. 1,408,277 shares of the company were exchanged, compared to its average volume of 3,325,526. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of -35.25 and a beta of 1.25. The firm’s 50-day simple moving average is $33.74 and its 200-day simple moving average is $31.84. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $34.06.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data 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 analysts’ expectations of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.34) EPS. On average, analysts forecast that HashiCorp, Inc. will post -0.48 EPS for the current fiscal year.

Institutional Trading of HashiCorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in HashiCorp by 2,195.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 968,500 shares of the company’s stock valued at $32,629,000 after buying an additional 926,300 shares during the period. University of Texas Texas AM Investment Management Co. grew its holdings in HashiCorp by 298.0% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 397,124 shares of the company’s stock valued at $13,379,000 after buying an additional 297,341 shares during the period. Water Island Capital LLC purchased a new stake in HashiCorp in the 2nd quarter valued at about $37,762,000. Algert Global LLC grew its holdings in HashiCorp by 13.6% in the 2nd quarter. Algert Global LLC now owns 75,676 shares of the company’s stock valued at $2,550,000 after buying an additional 9,036 shares during the period. Finally, Murchinson Ltd. purchased a new stake in HashiCorp in the 2nd quarter valued at about $3,369,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on HCP. Citigroup began coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price for the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. StockNews.com began coverage on HashiCorp in a report on Tuesday. They issued a “hold” rating for the company. Finally, Piper Sandler reissued a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Twelve investment 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 a consensus rating of “Hold” and a consensus price target of $32.08.

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.