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 firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $32.72, for a total transaction of $1,174,778.88. Following the transaction, the chief technology officer now directly owns 1,589,356 shares in the company, valued at $52,003,728.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, April 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $24.31, for a total transaction of $872,826.24.
• On Tuesday, April 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $25.69, for a total transaction of $922,373.76.
• On Thursday, March 21st, Armon Dadgar sold 10,241 shares of HashiCorp stock. The stock was sold at an average price of $27.39, for a total transaction of $280,500.99.
• On Thursday, February 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $21.82, for a total transaction of $783,425.28.

HashiCorp Trading Down 0.2 %

Shares of HCP traded down $0.06 during mid-day trading on Monday, reaching $32.79. The company’s stock had a trading volume of 4,196,372 shares, compared to its average volume of 3,613,534. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $36.39. The company’s fifty day moving average price is $27.09 and its two-hundred day moving average price is $23.85.

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

Institutional Investors Weigh In On HashiCorp

A number of hedge funds have recently made changes to their positions in HCP. Nomura Asset Management Co. Ltd. raised its holdings in HashiCorp by 35.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after buying an additional 615 shares during the last quarter. Industry Ventures L.L.C. bought a new stake in HashiCorp during the 4th quarter valued at $157,000. Victory Capital Management Inc. raised its holdings in HashiCorp by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after buying an additional 2,768 shares during the last quarter. Xponance Inc. raised its holdings in HashiCorp by 6.7% during the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after buying an additional 673 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in HashiCorp by 10.0% during the 3rd quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock valued at $246,000 after buying an additional 978 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HCP shares. BTIG Research downgraded shares of HashiCorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 24th. William Blair downgraded shares of HashiCorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 24th. Oppenheimer reiterated an “outperform” rating and issued a $34.00 target price on shares of HashiCorp in a research note on Wednesday, March 6th. Piper Sandler boosted their price objective on shares of HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Finally, Citigroup boosted their price objective on shares of HashiCorp from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, January 22nd. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.77.

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.