HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $1,217,111.70 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,903 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $33.90, for a total transaction of $1,217,111.70. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,528,000. This represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, November 4th, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.86, for a total transaction of $1,215,709.44.
• On Tuesday, October 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.82, for a total transaction of $1,214,273.28.
• On Wednesday, October 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.84, for a total transaction of $1,214,991.36.
• On Monday, September 23rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was 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 stock was sold at an average price of $33.83, for a total transaction of $1,214,632.32.

HashiCorp Price Performance

HCP stock remained flat at $33.92 during midday trading on Monday. The company’s stock had a trading volume of 1,549,002 shares, compared to its average volume of 2,981,973. The company’s fifty day simple moving average is $33.87 and its 200-day simple moving average is $33.68. The stock has a market capitalization of $6.88 billion, a PE ratio of -45.23 and a beta of 1.24. HashiCorp, Inc. has a one year low of $19.26 and a one year high of $34.21.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. During the same quarter in the prior year, the company posted ($0.34) earnings per share. HashiCorp’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities research analysts forecast that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HCP has been the topic of a number of recent analyst reports. Citigroup began coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. Piper Sandler restated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. StockNews.com started coverage on shares of HashiCorp in a report on Saturday. They issued a “hold” rating for the company. Finally, JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 purchasing an additional 1,501,953 shares in the last quarter. Advisors Asset Management Inc. grew its stake in HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of HashiCorp in the 1st quarter worth about $378,000. Bayesian Capital Management LP bought a new stake in shares of HashiCorp during the first quarter valued at approximately $2,178,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of HashiCorp in the first quarter worth $1,070,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

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.