Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $1,217,111.70 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $33.90, for a total value of $1,217,111.70. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,528,000. This trade represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, November 4th, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.86, for a total value of $1,215,709.44.
• 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 transaction 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 transaction of $1,214,991.36.
• On Monday, September 23rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were 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 stock was 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 value of $1,214,632.32.

HashiCorp Trading Down 0.6 %

HCP stock opened at $33.58 on Thursday. The stock has a market cap of $6.81 billion, a P/E ratio of -44.77 and a beta of 1.24. The stock’s fifty day simple moving average is $33.86 and its two-hundred day simple moving average is $33.70. HashiCorp, Inc. has a 1-year low of $19.26 and a 1-year high of $34.21.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. 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 firm earned ($0.34) EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, analysts forecast that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented 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 set a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Citigroup began coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. Finally, StockNews.com started coverage on shares of HashiCorp in a report on Saturday, November 23rd. They issued a “hold” rating on the stock. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, HashiCorp currently has a consensus rating of “Hold” and a consensus target price of $32.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Longfellow Investment Management Co. LLC purchased a new stake in shares of HashiCorp during the 3rd quarter worth approximately $38,000. American Capital Advisory LLC purchased a new stake in HashiCorp in the second quarter worth $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in HashiCorp in the third quarter worth $51,000. Advisors Asset Management Inc. raised its stake in shares of HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares during the period. Finally, Quest Partners LLC grew its stake in shares of HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after acquiring an additional 3,505 shares during the period. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

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.