HashiCorp, Inc. (NASDAQ:HCP) CMO Marc Holmes Sells 11,926 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CMO Marc Holmes sold 11,926 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.26, for a total transaction of $396,658.76. Following the completion of the sale, the chief marketing officer now directly owns 18,096 shares in the company, valued at $601,872.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, June 10th, Marc Holmes sold 13,916 shares of HashiCorp stock. The stock was sold at an average price of $33.74, for a total transaction of $469,525.84.
• On Wednesday, April 10th, Marc Holmes sold 13,916 shares of HashiCorp stock. The stock was sold at an average price of $26.30, for a total transaction of $365,990.80.

HashiCorp Stock Up 0.2 %

Shares of HCP stock opened at $33.48 on Tuesday. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of -34.87 and a beta of 1.25. The company’s 50 day moving average is $32.19 and its 200 day moving average is $26.98. HashiCorp, Inc. has a 52-week low of $18.91 and a 52-week high of $34.05.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. The company had revenue of $160.58 million for the quarter, compared to analyst estimates of $153.39 million. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. Analysts anticipate that HashiCorp, Inc. will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On HashiCorp

Several institutional investors have recently bought and sold shares of the company. Comerica Bank lifted its stake in shares of HashiCorp by 2.1% during the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after buying an additional 374 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of HashiCorp by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock worth $1,020,000 after buying an additional 420 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of HashiCorp by 43.0% during the first 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 period. Arizona State Retirement System lifted its stake in shares of HashiCorp by 6.6% during the fourth quarter. Arizona State Retirement System now owns 28,111 shares of the company’s stock worth $665,000 after buying an additional 1,750 shares during the period. Finally, Renaissance Capital LLC lifted its stake in shares of HashiCorp by 3.0% during the first quarter. Renaissance Capital LLC now owns 63,964 shares of the company’s stock worth $1,724,000 after buying an additional 1,857 shares during the period. 87.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley raised shares of HashiCorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $23.00 to $30.00 in a research report on Monday, February 26th. Stifel Nicolaus increased their price objective on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Truist Financial reaffirmed a “hold” rating and set a $35.00 target price (up from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of HashiCorp in a research report on Thursday, April 25th. Finally, StockNews.com initiated coverage on shares of HashiCorp in a research report on Thursday, June 20th. They set a “hold” rating on the stock. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.