Armon Dadgar Sells 35,904 Shares of HashiCorp, Inc. (NASDAQ:HCP) Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $33.80, for a total transaction of $1,213,555.20. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,376,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value of $1,215,350.40.
• On Friday, August 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.71, for a total value of $1,210,323.84.
• On Monday, July 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.50, for a total value of $1,202,784.00.
• On Tuesday, July 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.64, for a total value of $1,207,810.56.

HashiCorp Price Performance

Shares of HashiCorp stock opened at $33.87 on Friday. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $34.06. The business’s 50 day simple moving average is $33.75 and its two-hundred day simple moving average is $31.85. The stock has a market capitalization of $6.81 billion, a P/E ratio of -35.28 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last issued its earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The company had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.34) earnings per share. Sell-side analysts expect that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com assumed coverage on HashiCorp in a research note on Tuesday. They issued a “hold” rating on the stock. Citigroup assumed coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.08.

Institutional Trading of HashiCorp

Several large investors have recently modified their holdings of HCP. Charles Schwab Investment Management Inc. raised 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. Dimensional Fund Advisors LP raised its holdings in shares of HashiCorp by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,049,009 shares of the company’s stock valued at $24,799,000 after acquiring an additional 92,586 shares in the last quarter. Hsbc Holdings PLC lifted its stake in HashiCorp by 569.4% in the fourth quarter. Hsbc Holdings PLC now owns 99,235 shares of the company’s stock worth $2,373,000 after acquiring an additional 84,410 shares during the period. Treasurer of the State of North Carolina boosted its holdings in HashiCorp by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after acquiring an additional 420 shares in the last quarter. Finally, Adams Wealth Management increased its position in HashiCorp by 38.5% during the 4th quarter. Adams Wealth Management now owns 71,743 shares of the company’s stock valued at $1,696,000 after purchasing an additional 19,958 shares during the period. 87.83% of the stock is owned by institutional investors.

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.