HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $1,214,991.36 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total transaction of $1,214,991.36. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,436,800. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, September 23rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.80, for a total value of $1,213,555.20.
• On Friday, September 20th, Armon Dadgar sold 22,779 shares of HashiCorp stock. The shares were sold at an average price of $33.84, for a total value of $770,841.36.
• On Tuesday, September 3rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.83, for a total value of $1,214,632.32.
• On Thursday, August 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.85, for a total value of $1,215,350.40.
• On Friday, August 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.71, for a total transaction of $1,210,323.84.
• On Monday, July 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.50, for a total transaction of $1,202,784.00.

HashiCorp Price Performance

Shares of NASDAQ:HCP traded up $0.02 during trading on Thursday, reaching $33.88. 1,586,974 shares of the company’s stock traded hands, compared to its average volume of 3,272,425. The stock has a market capitalization of $6.81 billion, a P/E ratio of -35.29 and a beta of 1.25. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $34.06. The company has a 50 day moving average of $33.79 and a 200-day moving average of $32.12.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The company had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same period last year, the business posted ($0.34) earnings per share. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts predict that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HCP has been the topic of a number of research reports. StockNews.com started coverage on shares of HashiCorp in a research note on Monday. They issued a “hold” rating on the stock. Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, Piper Sandler reiterated a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, HashiCorp currently has an average rating of “Hold” and a consensus target price of $32.08.

Institutional Trading of HashiCorp

A number of institutional investors have recently made changes to their positions in HCP. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of HashiCorp by 2,195.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 968,500 shares of the company’s stock worth $32,629,000 after purchasing an additional 926,300 shares during the last quarter. University of Texas Texas AM Investment Management Co. grew its position in HashiCorp by 298.0% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 397,124 shares of the company’s stock worth $13,379,000 after buying an additional 297,341 shares during the last quarter. Water Island Capital LLC acquired a new position in HashiCorp in the second quarter worth approximately $37,762,000. Algert Global LLC increased its holdings in shares of HashiCorp by 13.6% in the second quarter. Algert Global LLC now owns 75,676 shares of the company’s stock valued at $2,550,000 after buying an additional 9,036 shares in the last quarter. Finally, Murchinson Ltd. acquired a new stake in shares of HashiCorp during the 2nd quarter valued at $3,369,000. 87.83% of the stock is owned by institutional investors and hedge funds.

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.