HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar Sells 18,349 Shares

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 18,349 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total value of $610,287.74. Following the sale, the chief technology officer now directly owns 44,371 shares of the company’s stock, valued at $1,475,779.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, June 3rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.65, for a total value of $1,208,169.60.
• On Wednesday, May 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.34, for a total value of $1,197,039.36.
• On Thursday, May 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $32.72, for a total value of $1,174,778.88.
• 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 value of $872,826.24.
• On Tuesday, April 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $25.69, for a total value of $922,373.76.

HashiCorp Price Performance

NASDAQ:HCP opened at $33.48 on Tuesday. The business has a 50 day moving average of $32.19 and a 200 day moving average of $26.98. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of -34.87 and a beta of 1.25. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $34.05.

HashiCorp (NASDAQ:HCP) last released its earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. The company had revenue of $160.58 million during the quarter, compared to the consensus estimate of $153.39 million. As a group, sell-side analysts anticipate that HashiCorp, Inc. will post -0.79 EPS for the current year.

Institutional Trading of HashiCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Advisors LLC bought a new stake in HashiCorp in the first quarter valued at approximately $379,000. Washington Harbour Partners LP lifted its position in HashiCorp by 72.5% in the first quarter. Washington Harbour Partners LP now owns 78,500 shares of the company’s stock valued at $2,116,000 after purchasing an additional 33,000 shares during the last quarter. Comerica Bank lifted its position in HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after purchasing an additional 374 shares during the last quarter. California State Teachers Retirement System lifted its position in HashiCorp by 5.1% in the first quarter. California State Teachers Retirement System now owns 111,076 shares of the company’s stock valued at $2,993,000 after purchasing an additional 5,372 shares during the last quarter. Finally, WPWealth LLP purchased a new position in shares of HashiCorp during the first quarter valued at approximately $437,000. Institutional investors own 87.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on HCP. TD Cowen lifted their target price on HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Thursday, June 6th. Morgan Stanley raised HashiCorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $23.00 to $30.00 in a report on Monday, February 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of HashiCorp in a report on Thursday, April 25th. Finally, KeyCorp began coverage on HashiCorp in a report on Tuesday, March 19th. They set a “sector weight” rating for the company. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.