HashiCorp, Inc. (NASDAQ:HCP) Insider Sells $752,330.88 in Stock

HashiCorp, Inc. (NASDAQ:HCP) insider Ledger Susan St. sold 22,232 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $752,330.88. Following the completion of the sale, the insider now directly owns 167,747 shares in the company, valued at $5,676,558.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Ledger Susan St. also recently made the following trade(s):

• On Tuesday, June 25th, Ledger Susan St. sold 3,264 shares of HashiCorp stock. The shares were sold at an average price of $33.45, for a total value of $109,180.80.

HashiCorp Price Performance

Shares of HCP stock opened at $33.84 on Thursday. The company has a fifty day moving average price of $33.75 and a two-hundred day moving average price of $31.85. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $34.06. The stock has a market cap of $6.80 billion, a P/E ratio of -35.25 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last issued its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $165.14 million during 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%. HashiCorp’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the business posted ($0.34) EPS. As a group, equities research analysts anticipate that HashiCorp, Inc. will post -0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HCP. StockNews.com started coverage on HashiCorp in a report on Tuesday. They set a “hold” rating for the company. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Finally, Citigroup initiated coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after acquiring an additional 1,501,953 shares during the period. Whale Rock Capital Management LLC boosted its position in HashiCorp by 293.2% during the first quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after purchasing an additional 3,404,557 shares during the period. Jericho Capital Asset Management L.P. increased its holdings in shares of HashiCorp by 53.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock valued at $89,985,000 after purchasing an additional 1,161,600 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. raised its position in shares of HashiCorp by 50.0% in the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after purchasing an additional 949,100 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of HashiCorp by 35.7% during the 4th quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock worth $64,350,000 after buying an additional 716,574 shares during the last quarter. 87.83% of the stock is currently 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.