Armon Dadgar Sells 35,904 Shares of HashiCorp, Inc. (NASDAQ:HCP) Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $25.69, for a total value of $922,373.76. Following the completion of the transaction, the chief technology officer now owns 1,661,164 shares of the company’s stock, valued at $42,675,303.16. The sale 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 Thursday, March 21st, Armon Dadgar sold 10,241 shares of HashiCorp stock. The shares were sold at an average price of $27.39, for a total value of $280,500.99.
• On Thursday, February 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $21.82, for a total value of $783,425.28.
• On Friday, February 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $23.02, for a total value of $826,510.08.
• On Monday, January 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $21.94, for a total value of $787,733.76.

HashiCorp Trading Up 0.6 %

NASDAQ:HCP opened at $25.81 on Friday. The stock has a market cap of $5.15 billion, a P/E ratio of -26.34 and a beta of 1.42. The stock has a 50 day simple moving average of $25.13 and a 200 day simple moving average of $23.06. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $36.39.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.06. The business had revenue of $155.78 million during the quarter, compared to analysts’ expectations of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. As a group, sell-side analysts forecast that HashiCorp, Inc. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Citigroup lifted their target price on HashiCorp from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 22nd. Piper Sandler restated a “neutral” rating and issued a $25.00 price target (up from $22.00) on shares of HashiCorp in a research note on Wednesday, March 6th. Morgan Stanley upgraded HashiCorp from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $23.00 to $30.00 in a research note on Monday, February 26th. Oppenheimer restated an “outperform” rating and issued a $34.00 price target on shares of HashiCorp in a research note on Wednesday, March 6th. Finally, TD Cowen raised their price target on HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.77.

Hedge Funds Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCP. Bank of New York Mellon Corp acquired a new position in HashiCorp in the 1st quarter valued at $2,742,000. Great West Life Assurance Co. Can acquired a new position in shares of HashiCorp during the 1st quarter worth $3,795,000. Blair William & Co. IL acquired a new position in shares of HashiCorp during the 1st quarter worth $273,000. Vanguard Group Inc. grew its position in HashiCorp by 21.9% during the 1st quarter. Vanguard Group Inc. now owns 1,278,704 shares of the company’s stock worth $69,050,000 after acquiring an additional 229,768 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in HashiCorp in the first quarter valued at about $2,722,000. 87.83% of the stock is owned by institutional investors and hedge funds.

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.