HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda Sells 3,000 Shares

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 3,000 shares of HashiCorp stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $27.84, for a total value of $83,520.00. Following the sale, the chief financial officer now directly owns 93,925 shares in the company, valued at approximately $2,614,872. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, March 21st, Navam Welihinda sold 9,153 shares of HashiCorp stock. The shares were sold at an average price of $27.39, for a total value of $250,700.67.
• On Monday, February 26th, Navam Welihinda sold 2,500 shares of HashiCorp stock. The stock was sold at an average price of $25.00, for a total value of $62,500.00.
• On Thursday, February 22nd, Navam Welihinda sold 2,500 shares of HashiCorp stock. The stock was sold at an average price of $21.84, for a total value of $54,600.00.
• On Friday, February 9th, Navam Welihinda sold 5,000 shares of HashiCorp stock. The stock was sold at an average price of $25.00, for a total value of $125,000.00.

HashiCorp Stock Performance

Shares of HCP stock opened at $32.59 on Friday. The stock’s 50-day simple moving average is $26.08 and its 200-day simple moving average is $23.44. The firm has a market capitalization of $6.50 billion, a PE ratio of -33.25 and a beta of 1.42. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $36.39.

HashiCorp (NASDAQ:HCP) last issued its earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. The firm had revenue of $155.78 million for the quarter, compared to the consensus estimate of $149.47 million. Sell-side analysts forecast that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HCP. Morgan Stanley raised HashiCorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $23.00 to $30.00 in a research note on Monday, February 26th. KeyCorp initiated coverage on HashiCorp in a report on Tuesday, March 19th. They set a “sector weight” rating for the company. JMP Securities restated a “market outperform” rating and set a $38.00 price objective on shares of HashiCorp in a report on Thursday, March 7th. Truist Financial reiterated a “hold” rating and issued a $35.00 target price (up from $27.00) on shares of HashiCorp in a report on Thursday. Finally, Scotiabank reissued a “sector perform” rating and issued a $35.00 price target (up from $31.00) on shares of HashiCorp in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, HashiCorp presently has an average rating of “Hold” and an average target price of $30.77.

Hedge Funds Weigh In On HashiCorp

Hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of HashiCorp in the third quarter valued at approximately $309,000. Qsemble Capital Management LP acquired a new stake in shares of HashiCorp in the third quarter valued at approximately $1,119,000. Artemis Investment Management LLP acquired a new stake in shares of HashiCorp in the fourth quarter valued at approximately $7,124,000. Vanguard Group Inc. increased its holdings in shares of HashiCorp by 4.9% in the third quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after purchasing an additional 455,179 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in HashiCorp during the third quarter worth $491,000. Hedge funds and other 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.