HashiCorp, Inc. (NASDAQ:HCP) CFO Sells $614,771.28 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 18,167 shares of HashiCorp stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $614,771.28. Following the completion of the sale, the chief financial officer now directly owns 105,883 shares of the company’s stock, valued at approximately $3,583,080.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Navam Welihinda also recently made the following trade(s):

• On Thursday, August 22nd, Navam Welihinda sold 5,000 shares of HashiCorp stock. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00.
• On Monday, July 22nd, Navam Welihinda sold 5,000 shares of HashiCorp stock. The shares were sold at an average price of $33.50, for a total transaction of $167,500.00.

HashiCorp Stock Performance

HashiCorp stock traded down $0.07 during midday trading on Monday, reaching $33.82. The company’s stock had a trading volume of 2,312,660 shares, compared to its average volume of 3,344,329. The firm has a market capitalization of $6.80 billion, a PE ratio of -35.21 and a beta of 1.25. 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 simple moving average is $33.73 and its 200 day simple moving average is $31.73.

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

Hedge Funds Weigh In On HashiCorp

Hedge funds have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in 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 buying an additional 926,300 shares in the last quarter. University of Texas Texas AM Investment Management Co. grew its position in shares of HashiCorp by 298.0% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 397,124 shares of the company’s stock valued at $13,379,000 after buying an additional 297,341 shares during the last quarter. Water Island Capital LLC bought a new stake in shares of HashiCorp during the 2nd quarter valued at about $37,762,000. Algert Global LLC grew its position in shares of HashiCorp by 13.6% during the 2nd 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 during the last quarter. Finally, Murchinson Ltd. bought a new position in HashiCorp in the 2nd quarter worth about $3,369,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Piper Sandler restated a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Citigroup initiated coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price on the stock. Finally, StockNews.com started coverage on shares of HashiCorp in a research report on Wednesday, September 18th. They issued a “hold” rating for the company. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.08.

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.