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 business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $24.31, for a total value of $872,826.24. Following the transaction, the chief technology officer now owns 1,625,260 shares in the company, valued at $39,510,070.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, April 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $25.69, for a total transaction of $922,373.76.
• On Thursday, March 21st, Armon Dadgar sold 10,241 shares of HashiCorp stock. The shares were sold at an average price of $27.39, for a total transaction of $280,500.99.
• On Thursday, February 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $21.82, for a total transaction of $783,425.28.
• On Friday, February 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $23.02, for a total value of $826,510.08.

HashiCorp Price Performance

NASDAQ HCP opened at $32.82 on Friday. The stock’s 50 day simple moving average is $25.90 and its 200-day simple moving average is $23.37. The company has a market cap of $6.55 billion, a PE ratio of -33.49 and a beta of 1.42. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $36.39.

HashiCorp (NASDAQ:HCP) last issued its earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. The business had revenue of $155.78 million during the quarter, compared to analysts’ expectations of $149.47 million. On average, equities research analysts anticipate that HashiCorp, Inc. will post -0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HCP. Ronald Blue Trust Inc. boosted its position in shares of HashiCorp by 327.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock valued at $47,000 after acquiring an additional 1,570 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after purchasing an additional 615 shares during the last quarter. Industry Ventures L.L.C. purchased a new stake in shares of HashiCorp in the 4th quarter valued at approximately $157,000. Victory Capital Management Inc. increased its holdings in shares of HashiCorp by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after buying an additional 2,768 shares during the last quarter. Finally, Xponance Inc. raised its position in shares of HashiCorp by 6.7% during the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after buying an additional 673 shares during the period. 87.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HCP. Scotiabank reaffirmed a “sector perform” rating and set a $35.00 price target (up previously from $31.00) on shares of HashiCorp in a research report on Thursday. Piper Sandler upped their target price on HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday. TD Cowen increased their price target on shares of HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Truist Financial restated a “hold” rating and set a $35.00 price objective (up from $27.00) on shares of HashiCorp in a research note on Thursday. Finally, Bank of America increased their price objective on shares of HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.77.

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.