Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CEO Sells $1,626,339.72 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CEO David Mcjannet sold 47,526 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the transaction, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

HashiCorp Stock Performance

NASDAQ:HCP opened at $34.24 on Thursday. HashiCorp, Inc. has a one year low of $20.89 and a one year high of $34.33. The stock has a market cap of $7.00 billion, a PE ratio of -56.13 and a beta of 1.21. The stock has a 50 day moving average price of $33.84 and a 200 day moving average price of $33.76.

Analyst Upgrades and Downgrades

HCP has been the subject of a number of analyst reports. StockNews.com initiated coverage on HashiCorp in a report on Monday. They issued a “hold” rating for the company. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Citigroup started coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Finally, 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. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.08.

Institutional Trading of HashiCorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pentwater Capital Management LP purchased a new stake in shares of HashiCorp in the second quarter valued at about $91,654,000. Magnetar Financial LLC purchased a new stake in shares of HashiCorp in the 2nd quarter valued at approximately $71,490,000. ING Groep NV increased its holdings in shares of HashiCorp by 851.2% during the 3rd quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock worth $56,587,000 after buying an additional 1,495,500 shares during the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of HashiCorp during the 2nd quarter valued at approximately $48,541,000. Finally, Westchester Capital Management LLC lifted its holdings in HashiCorp by 60.5% in the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock valued at $108,363,000 after acquiring an additional 1,206,073 shares during the last quarter. 86.25% of the stock is owned by institutional investors and hedge funds.

HashiCorp Company Profile

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.