Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $707,666.76 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 21,137 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $33.48, for a total transaction of $707,666.76. Following the transaction, the chief technology officer now owns 23,234 shares in the company, valued at $777,874.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, June 20th, Armon Dadgar sold 18,349 shares of HashiCorp stock. The shares were sold at an average price of $33.26, for a total transaction of $610,287.74.
• On Monday, June 3rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.65, for a total transaction of $1,208,169.60.
• On Wednesday, May 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.34, for a total value of $1,197,039.36.
• On Thursday, May 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $32.72, for a total value of $1,174,778.88.
• 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.

HashiCorp Price Performance

NASDAQ:HCP opened at $33.69 on Friday. The firm has a market capitalization of $6.77 billion, a P/E ratio of -35.09 and a beta of 1.25. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $34.05. The company’s 50-day simple moving average is $32.97 and its 200 day simple moving average is $27.25.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. The firm had revenue of $160.58 million for the quarter, compared to analysts’ expectations of $153.39 million. On average, equities research analysts expect that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HashiCorp

Several large investors have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its stake 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 worth $86,000 after purchasing an additional 961 shares during the last quarter. Covestor Ltd raised its position in HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after buying an additional 3,480 shares during the last quarter. Industry Ventures L.L.C. bought a new position in HashiCorp during the 4th quarter valued at about $157,000. SVB Wealth LLC purchased a new stake in shares of HashiCorp during the 4th quarter valued at about $273,000. Finally, Aristides Capital LLC bought a new stake in shares of HashiCorp in the fourth quarter worth approximately $286,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. William Blair lowered shares of HashiCorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 24th. Needham & Company LLC reiterated a “hold” rating on shares of HashiCorp in a report on Thursday, April 25th. StockNews.com initiated coverage on HashiCorp in a report on Wednesday. They set a “hold” rating on the stock. Truist Financial reiterated a “hold” rating and issued a $35.00 price objective (up previously from $27.00) on shares of HashiCorp in a report on Thursday, April 25th. Finally, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Thursday, June 6th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.17.

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.