HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar Sells 35,904 Shares

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $32.72, for a total transaction of $1,174,778.88. Following the sale, the chief technology officer now directly owns 1,589,356 shares of the company’s stock, valued at $52,003,728.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 transaction 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.
• 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.

HashiCorp Price Performance

HCP stock opened at $32.79 on Tuesday. The business has a 50-day moving average of $27.24 and a 200-day moving average of $23.94. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $36.39. The stock has a market capitalization of $6.54 billion, a P/E ratio of -33.46 and a beta of 1.25.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. lifted its position in HashiCorp by 6.7% during the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after buying an additional 673 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of HashiCorp by 10.5% in the third quarter. Bank of New York Mellon Corp now owns 337,516 shares of the company’s stock valued at $7,705,000 after acquiring an additional 32,006 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in HashiCorp by 19.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,596 shares of the company’s stock worth $1,589,000 after acquiring an additional 11,278 shares in the last quarter. Sycomore Asset Management acquired a new position in HashiCorp during the third quarter valued at approximately $2,277,000. Finally, Perigon Wealth Management LLC grew its stake in HashiCorp by 81.7% in the third quarter. Perigon Wealth Management LLC now owns 73,454 shares of the company’s stock valued at $1,677,000 after purchasing an additional 33,037 shares in the last quarter. Institutional investors own 87.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HCP. JMP Securities restated a “market outperform” rating and set a $38.00 target price on shares of HashiCorp in a research report on Thursday, March 7th. Bank of America boosted their price objective on shares of HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. BTIG Research downgraded shares of HashiCorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 24th. Morgan Stanley upgraded shares of HashiCorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $23.00 to $30.00 in a research report on Monday, February 26th. Finally, Oppenheimer reiterated an “outperform” rating and set a $34.00 target price on shares of HashiCorp in a report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, HashiCorp presently has an average rating of “Hold” and a consensus price target of $30.77.

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.