HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $872,826.24 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $24.31, for a total transaction of $872,826.24. Following the completion of the transaction, the chief technology officer now directly owns 1,625,260 shares in the company, valued at $39,510,070.60. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 value 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 value of $783,425.28.
• On Friday, February 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $23.02, for a total transaction of $826,510.08.

HashiCorp Stock Performance

HashiCorp stock opened at $32.59 on Friday. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of -33.25 and a beta of 1.42. The company’s 50 day simple moving average is $26.08 and its 200-day simple moving average is $23.44. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $36.39.

HashiCorp (NASDAQ:HCP) last announced its 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 return on equity of 15.58% and a negative net margin of 32.70%. The company had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. Equities analysts expect that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

Analysts Set New Price Targets

HCP has been the topic of a number of recent research reports. Bank of America boosted their price target on shares of HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com upgraded HashiCorp from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. Stifel Nicolaus lifted their price objective on HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. BTIG Research downgraded HashiCorp from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, Citigroup raised their target price on HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 22nd. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, HashiCorp currently has an average rating of “Hold” and a consensus target price of $30.77.

Hedge Funds Weigh In On HashiCorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Peregrine Capital Management LLC lifted its position in shares of HashiCorp by 5.3% during the first quarter. Peregrine Capital Management LLC now owns 270,064 shares of the company’s stock worth $7,278,000 after purchasing an additional 13,669 shares in the last quarter. Diversified Trust Co purchased a new stake in HashiCorp during the 1st quarter worth approximately $416,000. Artemis Investment Management LLP lifted its holdings in HashiCorp by 416.0% during the 1st quarter. Artemis Investment Management LLP now owns 1,555,104 shares of the company’s stock worth $41,891,000 after buying an additional 1,253,723 shares in the last quarter. Renaissance Capital LLC boosted its position in HashiCorp by 3.0% in the 1st quarter. Renaissance Capital LLC now owns 63,964 shares of the company’s stock valued at $1,724,000 after buying an additional 1,857 shares during the period. Finally, Vanguard Group Inc. boosted its position in HashiCorp by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock valued at $253,484,000 after buying an additional 999,671 shares during the period. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

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.