HashiCorp, Inc. (NASDAQ:HCP) CEO Sells $1,598,309.30 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CEO David Mcjannet sold 48,055 shares of HashiCorp stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $33.26, for a total transaction of $1,598,309.30. Following the completion of the transaction, the chief executive officer now directly owns 373,330 shares in the company, valued at $12,416,955.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

HashiCorp Price Performance

NASDAQ:HCP opened at $33.49 on Thursday. The firm’s 50-day moving average price is $32.58 and its 200-day moving average price is $27.11. The company has a market capitalization of $6.73 billion, a PE ratio of -34.89 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. The firm had revenue of $160.58 million for the quarter, compared to the consensus estimate of $153.39 million. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. Equities analysts anticipate that HashiCorp, Inc. will post -0.8 EPS for the current fiscal year.

Institutional Trading of HashiCorp

Institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in HashiCorp during the 3rd quarter valued at about $309,000. Charles Schwab Investment Management Inc. grew its position in HashiCorp by 11.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after purchasing an additional 63,879 shares during the last quarter. TimesSquare Capital Management LLC grew its position in HashiCorp by 10.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock valued at $63,775,000 after purchasing an additional 254,720 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in HashiCorp during the 4th quarter valued at about $7,124,000. Finally, Contour Asset Management LLC purchased a new stake in HashiCorp during the 4th quarter valued at about $21,217,000. 87.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HCP shares. StockNews.com started coverage on shares of HashiCorp in a research note on Wednesday. They issued a “hold” rating on the stock. BTIG Research downgraded shares of HashiCorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of HashiCorp in a research note on Thursday, April 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $34.00 target price on shares of HashiCorp in a research note on Wednesday, March 6th. Finally, Stifel Nicolaus upped their price objective on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, HashiCorp currently has a consensus rating of “Hold” and a consensus 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.