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 business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $32.72, for a total value of $1,174,778.88. Following the transaction, the chief technology officer now owns 1,589,356 shares in the company, valued at $52,003,728.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, April 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $24.31, for a total value of $872,826.24.
• On Tuesday, April 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $25.69, for a total value 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 shares were sold at an average price of $21.82, for a total transaction of $783,425.28.

HashiCorp Stock Performance

Shares of HCP opened at $32.81 on Thursday. The business’s fifty day moving average price is $27.50 and its two-hundred day moving average price is $24.09. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of -33.48 and a beta of 1.25. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $36.39.

HashiCorp (NASDAQ:HCP) last released its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.06. The firm had revenue of $155.78 million for the quarter, compared to analyst estimates 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, research analysts forecast that HashiCorp, Inc. will post -0.8 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. TimesSquare Capital Management LLC acquired a new stake in HashiCorp in the third quarter worth $55,774,000. Atreides Management LP bought a new position in HashiCorp during the third quarter worth about $31,413,000. Artemis Investment Management LLP grew its stake in HashiCorp by 416.0% in the first quarter. Artemis Investment Management LLP now owns 1,555,104 shares of the company’s stock valued at $41,891,000 after acquiring an additional 1,253,723 shares during the period. Vanguard Group Inc. increased its holdings in shares of HashiCorp by 10.3% in the fourth quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock worth $253,484,000 after acquiring an additional 999,671 shares in the last quarter. Finally, Optimus Prime Fund Management Co. Ltd. raised its position in shares of HashiCorp by 50.0% during the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after purchasing an additional 949,100 shares during the period. Institutional investors and hedge funds own 87.83% of the company’s stock.

Analyst Upgrades and Downgrades

HCP has been the subject of several recent research reports. KeyCorp assumed coverage on shares of HashiCorp in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. StockNews.com initiated coverage on HashiCorp in a research report on Thursday. They set a “hold” rating for the company. Oppenheimer reiterated an “outperform” rating and issued a $34.00 price target on shares of HashiCorp in a research report on Wednesday, March 6th. Scotiabank reissued a “sector perform” rating and set a $35.00 price objective (up from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. Finally, TD Cowen upped their target price on shares of HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.77.

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.