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 that occurred on Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total transaction of $1,214,991.36. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,436,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, September 23rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.80, for a total transaction of $1,213,555.20.
• 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 transaction of $770,841.36.
• On Tuesday, September 3rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were 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 shares were 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.

HashiCorp Stock Performance

Shares of HCP opened at $33.93 on Friday. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $34.06. The stock has a 50 day moving average price of $33.80 and a two-hundred day moving average price of $32.19. The firm has a market capitalization of $6.82 billion, a P/E ratio of -35.34 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 during the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. HashiCorp’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.34) EPS. On average, equities analysts forecast that HashiCorp, Inc. will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. American Capital Advisory LLC bought a new stake in HashiCorp in the 2nd quarter worth about $40,000. Advisors Asset Management Inc. grew its holdings in shares of HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after acquiring an additional 961 shares in the last quarter. Covestor Ltd increased its position in shares of HashiCorp by 12,888.9% during the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after acquiring an additional 3,480 shares during the last quarter. Quest Partners LLC lifted its holdings in HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after acquiring an additional 3,505 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in HashiCorp in the second quarter worth $208,000. 87.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HCP has been the topic of several analyst reports. Citigroup began coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. Piper Sandler reiterated a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, StockNews.com initiated coverage on shares of HashiCorp in a research report on Sunday. They set a “hold” rating for the company. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.08.

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.