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 stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $24.31, for a total transaction of $872,826.24. Following the completion of the sale, the chief technology officer now directly owns 1,625,260 shares in the company, valued at $39,510,070.60. The sale was disclosed in a filing with the SEC, which is available at 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 value 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 Stock Performance

HCP stock opened at $32.59 on Friday. The firm has a market cap of $6.50 billion, a P/E ratio of -33.25 and a beta of 1.42. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $36.39. The stock has a 50-day simple moving average of $26.08 and a 200-day simple moving average of $23.44.

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

Hedge Funds Weigh In On HashiCorp

A number of institutional investors have recently made changes to their positions in HCP. Ronald Blue Trust Inc. increased its stake in shares of HashiCorp by 327.8% in the third quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock worth $47,000 after buying an additional 1,570 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of HashiCorp by 47.6% during the third quarter. SG Americas Securities LLC now owns 39,928 shares of the company’s stock worth $912,000 after purchasing an additional 12,884 shares during the last quarter. Peregrine Capital Management LLC grew its stake in HashiCorp by 3.5% in the third quarter. Peregrine Capital Management LLC now owns 303,525 shares of the company’s stock worth $6,929,000 after purchasing an additional 10,322 shares in the last quarter. Xponance Inc. grew its stake in HashiCorp by 6.7% in the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after purchasing an additional 673 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in HashiCorp by 10.5% in the third quarter. Bank of New York Mellon Corp now owns 337,516 shares of the company’s stock valued at $7,705,000 after buying an additional 32,006 shares during the last quarter. 87.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on HCP shares. Stifel Nicolaus upped their price objective on HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. KeyCorp began coverage on shares of HashiCorp in a report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Piper Sandler raised their price target on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday. BTIG Research lowered shares of HashiCorp from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, Citigroup raised their target price on shares of HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 22nd. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, HashiCorp currently has an average rating of “Hold” and a consensus price target 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.