Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $1,215,709.44 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $33.86, for a total value of $1,215,709.44. Following the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,467,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, October 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.82, for a total value of $1,214,273.28.
• On Wednesday, October 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.84, for a total value of $1,214,991.36.
• 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 transaction 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 transaction of $770,841.36.
• On Tuesday, September 3rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were 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.

HashiCorp Stock Down 0.1 %

HCP stock opened at $34.04 on Friday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of -45.39 and a beta of 1.24. The company’s fifty day simple moving average is $33.86 and its 200 day simple moving average is $33.49. HashiCorp, Inc. has a 12-month low of $19.26 and a 12-month high of $34.13.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data 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 the consensus estimate of $157.22 million. During the same period in the previous year, the business earned ($0.34) EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. Research analysts expect that HashiCorp, Inc. will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On HashiCorp

A number of institutional investors and hedge funds have recently modified their holdings of HCP. American Capital Advisory LLC acquired a new position in shares of HashiCorp during the 2nd quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HashiCorp during the third quarter valued at about $51,000. Advisors Asset Management Inc. boosted its position in shares of HashiCorp by 43.0% during the 1st 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. Covestor Ltd grew its stake in shares of HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after buying an additional 3,480 shares during the period. Finally, Quest Partners LLC increased its position in HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares in the last quarter. 87.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler restated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup assumed coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, StockNews.com initiated coverage on shares of HashiCorp in a research report on Tuesday. They issued a “hold” rating for the company. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.