HashiCorp, Inc. (NASDAQ:HCP) CFO Sells $83,520.00 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 3,000 shares of HashiCorp stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $27.84, for a total transaction of $83,520.00. Following the sale, the chief financial officer now owns 93,925 shares of the company’s stock, valued at approximately $2,614,872. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Navam Welihinda also recently made the following trade(s):

• On Thursday, March 21st, Navam Welihinda sold 9,153 shares of HashiCorp stock. The shares were sold at an average price of $27.39, for a total transaction of $250,700.67.
• On Monday, February 26th, Navam Welihinda sold 2,500 shares of HashiCorp stock. The shares were sold at an average price of $25.00, for a total transaction of $62,500.00.
• On Thursday, February 22nd, Navam Welihinda sold 2,500 shares of HashiCorp stock. The shares were sold at an average price of $21.84, for a total transaction of $54,600.00.
• On Friday, February 9th, Navam Welihinda sold 5,000 shares of HashiCorp stock. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00.

HashiCorp Stock Performance

HCP stock opened at $32.59 on Friday. The company’s 50-day simple moving average is $26.08 and its 200 day simple moving average is $23.44. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $36.39. The company has a market capitalization of $6.50 billion, a PE ratio of -33.25 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate 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, analysts forecast that HashiCorp, Inc. will post -0.8 EPS for the current year.

Analyst Ratings Changes

HCP has been the topic of a number of research reports. StockNews.com raised shares of HashiCorp from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Piper Sandler lifted their price target on shares of HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday. TD Cowen lifted their price target on shares of HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Bank of America lifted their price target on shares of HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, BTIG Research lowered shares of HashiCorp from a “buy” rating to a “neutral” rating in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HCP. TimesSquare Capital Management LLC bought a new position in HashiCorp in the 3rd quarter valued at approximately $55,774,000. Atreides Management LP bought a new position in HashiCorp in the 3rd quarter valued at approximately $31,413,000. Artemis Investment Management LLP raised its holdings in HashiCorp by 416.0% in the 1st quarter. Artemis Investment Management LLP now owns 1,555,104 shares of the company’s stock valued at $41,891,000 after buying an additional 1,253,723 shares during the last quarter. Vanguard Group Inc. raised its holdings in HashiCorp by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock valued at $253,484,000 after buying an additional 999,671 shares during the last quarter. Finally, Optimus Prime Fund Management Co. Ltd. raised its holdings in HashiCorp by 50.0% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after buying an additional 949,100 shares during the last quarter. 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.