David Mcjannet Sells 47,526 Shares of HashiCorp, Inc. (NASDAQ:HCP) Stock

HashiCorp, Inc. (NASDAQ:HCP) CEO David Mcjannet sold 47,526 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the sale, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at $15,945,767.16. This represents a 9.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

HashiCorp Price Performance

Shares of HashiCorp stock opened at $34.24 on Wednesday. HashiCorp, Inc. has a 12-month low of $20.89 and a 12-month high of $34.33. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of -56.13 and a beta of 1.21. The firm’s 50-day moving average price is $33.83 and its two-hundred day moving average price is $33.76.

Institutional Trading of HashiCorp

Large investors have recently made changes to their positions in the company. Longfellow Investment Management Co. LLC bought a new stake in shares of HashiCorp during the 3rd quarter worth $38,000. American Capital Advisory LLC acquired a new stake in shares of HashiCorp in the 2nd quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HashiCorp during the 3rd quarter valued at approximately $51,000. Quest Partners LLC increased its position 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 purchasing an additional 3,505 shares in the last quarter. Finally, KBC Group NV lifted its stake in HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after purchasing an additional 731 shares during the last quarter. Institutional investors and hedge funds own 86.25% of the company’s stock.

Wall Street Analysts Forecast Growth

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