HashiCorp, Inc. (NASDAQ:HCP) CMO Marc Holmes Sells 13,916 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total transaction of $365,990.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Marc Holmes also recently made the following trade(s):

• On Thursday, March 21st, Marc Holmes sold 8,009 shares of HashiCorp stock. The stock was sold at an average price of $27.38, for a total transaction of $219,286.42.
• On Monday, February 12th, Marc Holmes sold 13,916 shares of HashiCorp stock. The shares were sold at an average price of $24.99, for a total transaction of $347,760.84.

HashiCorp Stock Down 5.9 %

HashiCorp stock opened at $24.55 on Friday. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $36.39. The business’s fifty day moving average is $25.47 and its 200 day moving average is $23.15.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. The firm had revenue of $155.78 million for the quarter, compared to the consensus estimate of $149.47 million. As a group, research analysts anticipate that HashiCorp, Inc. will post -0.8 EPS for the current year.

Institutional Investors Weigh In On HashiCorp

A number of hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in HashiCorp during the third quarter valued at approximately $309,000. Qsemble Capital Management LP purchased a new stake in shares of HashiCorp in the 3rd quarter worth $1,119,000. Stanley Laman Group Ltd. increased its stake in shares of HashiCorp by 60.3% in the 3rd quarter. Stanley Laman Group Ltd. now owns 440,063 shares of the company’s stock worth $10,047,000 after purchasing an additional 165,474 shares in the last quarter. Artemis Investment Management LLP bought a new position in HashiCorp in the 4th quarter worth $7,124,000. Finally, Vanguard Group Inc. lifted its position in HashiCorp by 4.9% during the third quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after purchasing an additional 455,179 shares in the last quarter. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HCP. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price target (up previously from $22.00) on shares of HashiCorp in a research report on Wednesday, March 6th. Morgan Stanley raised shares of HashiCorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $23.00 to $30.00 in a research report on Monday, February 26th. BTIG Research boosted their price target on shares of HashiCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. TD Cowen raised their price objective 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. Finally, Oppenheimer restated an “outperform” rating and set a $34.00 target price on shares of HashiCorp in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.77.

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.