HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $770,841.36 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 22,779 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $770,841.36. Following the sale, the chief technology officer now directly owns 44,934 shares in the company, valued at $1,520,566.56. The transaction 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 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 transaction 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 transaction 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 transaction of $1,210,323.84.
• On Monday, July 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.50, for a total transaction of $1,202,784.00.
• On Tuesday, July 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.64, for a total transaction of $1,207,810.56.

HashiCorp Stock Performance

Shares of HCP stock traded down $0.07 on Monday, hitting $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’s 50 day moving average is $33.73 and its 200-day moving average is $31.73. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The company has a market capitalization of $6.80 billion, a PE ratio of -35.21 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The business had revenue of $165.14 million for the quarter, compared to the consensus estimate 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 was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.34) earnings per share. On average, research analysts forecast that HashiCorp, Inc. will post -0.59 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On HashiCorp

A number of large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of HashiCorp by 11.3% in the fourth 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. Swiss National Bank lifted its holdings in shares of 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 acquiring an additional 23,400 shares during the last quarter. Contour Asset Management LLC bought a new position in shares of HashiCorp in the fourth quarter worth about $21,217,000. GGV Capital LLC lifted its holdings in shares of 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 acquiring an additional 29,064 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of HashiCorp in the first quarter worth about $1,070,000. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.