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 that occurred on Friday, November 22nd. The shares were sold at an average price of $33.90, for a total transaction of $1,217,111.70. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,528,000. This represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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 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 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 transaction of $1,214,632.32.

HashiCorp Stock Down 0.6 %

NASDAQ HCP opened at $33.58 on Thursday. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -44.77 and a beta of 1.24. The company has a 50-day simple moving average of $33.86 and a two-hundred day simple moving average of $33.70. HashiCorp, Inc. has a 12-month low of $19.26 and a 12-month high of $34.21.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results 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 business had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. During the same period last year, the company earned ($0.34) EPS. HashiCorp’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts expect that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HCP has been the subject of several research analyst reports. Citigroup began coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. StockNews.com began coverage on HashiCorp in a research report on Saturday, November 23rd. They set a “hold” rating for the company. Piper Sandler restated a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.08.

Institutional Trading of HashiCorp

A number of institutional investors have recently made changes to their positions in the stock. Pentwater Capital Management LP purchased a new stake in shares of HashiCorp during the second quarter worth about $91,654,000. Magnetar Financial LLC bought a new stake in shares of HashiCorp in the 2nd quarter worth approximately $71,490,000. Vanguard Group Inc. increased its stake in shares of HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after buying an additional 1,501,953 shares during the period. ING Groep NV raised its holdings in shares of HashiCorp by 851.2% during the third quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock valued at $56,587,000 after acquiring an additional 1,495,500 shares in the last quarter. Finally, Alpine Associates Management Inc. purchased a new stake in HashiCorp in the second quarter worth $48,541,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

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.