Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CTO Sells 22,779 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 22,779 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $770,841.36. Following the transaction, the chief technology officer now directly owns 44,934 shares of the company’s stock, valued at $1,520,566.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 transaction 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 transaction of $1,215,350.40.
• On Friday, August 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was 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.
• On Tuesday, July 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.64, for a total transaction of $1,207,810.56.

HashiCorp Stock Down 0.2 %

NASDAQ HCP traded down $0.07 during trading on Monday, reaching $33.82. 2,312,660 shares of the stock traded hands, compared to its average volume of 3,344,329. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The stock’s 50-day moving average price is $33.73 and its 200 day moving average price is $31.73. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of -35.21 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. Analysts anticipate that HashiCorp, Inc. will post -0.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Citigroup initiated coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Finally, StockNews.com initiated coverage on shares of HashiCorp in a research report on Wednesday, September 18th. They set a “hold” 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. Based on data from MarketBeat.com, HashiCorp has an average rating of “Hold” and an average target price of $32.08.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Xponance Inc. lifted its position in shares of HashiCorp by 3.1% in the second quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after purchasing an additional 305 shares in the last quarter. Comerica Bank lifted its position in shares of HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after purchasing an additional 374 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of HashiCorp by 1.0% in 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 purchasing an additional 420 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after purchasing an additional 961 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of HashiCorp by 3.5% in the second quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock worth $1,075,000 after purchasing an additional 1,065 shares in the last quarter. Institutional investors own 87.83% of the company’s stock.

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.