HashiCorp, Inc. (NASDAQ:HCP) Director Sells $32,760.00 in Stock

HashiCorp, Inc. (NASDAQ:HCP) Director Sigal Zarmi sold 975 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $33.60, for a total value of $32,760.00. Following the transaction, the director now owns 37,546 shares in the company, valued at approximately $1,261,545.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sigal Zarmi also recently made the following trade(s):

• On Tuesday, April 23rd, Sigal Zarmi sold 4,350 shares of HashiCorp stock. The stock was sold at an average price of $30.00, for a total value of $130,500.00.

HashiCorp Price Performance

Shares of HCP opened at $33.49 on Thursday. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $34.05. The firm has a 50-day moving average price of $32.58 and a 200 day moving average price of $27.11.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. The business had revenue of $160.58 million during the quarter, compared to analysts’ expectations of $153.39 million. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. On average, sell-side analysts anticipate that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HCP. StockNews.com assumed coverage on shares of HashiCorp in a research note on Wednesday. They issued a “hold” rating on the stock. Truist Financial reiterated a “hold” rating and set a $35.00 price objective (up from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. Piper Sandler raised their target price on HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Stifel Nicolaus boosted their price target on HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, William Blair lowered HashiCorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 24th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.17.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Whale Rock Capital Management LLC lifted its holdings in shares of HashiCorp by 293.2% in the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after acquiring an additional 3,404,557 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in HashiCorp during the third quarter worth $55,774,000. Champlain Investment Partners LLC purchased a new position in shares of HashiCorp during the first quarter worth $48,995,000. Vanguard Group Inc. boosted its position in shares of HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after buying an additional 1,501,953 shares during the period. Finally, Atreides Management LP acquired a new stake in shares of HashiCorp in the third quarter valued at $31,413,000. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

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.