Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CEO Sells 47,526 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CEO David Mcjannet sold 47,526 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the transaction, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

HashiCorp Stock Performance

Shares of HashiCorp stock traded down $0.03 on Monday, reaching $34.24. The company had a trading volume of 1,350,334 shares, compared to its average volume of 2,961,617. The firm’s 50 day moving average price is $33.83 and its two-hundred day moving average price is $33.76. HashiCorp, Inc. has a 52-week low of $20.89 and a 52-week high of $34.33. The firm has a market cap of $7.00 billion, a PE ratio of -56.13 and a beta of 1.21.

Analyst Upgrades and Downgrades

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

Institutional Trading of HashiCorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HCP. Pentwater Capital Management LP acquired a new position in HashiCorp during the 2nd quarter worth about $91,654,000. Magnetar Financial LLC acquired a new stake in shares of HashiCorp during the second quarter worth about $71,490,000. ING Groep NV grew its holdings in shares of HashiCorp by 851.2% in the third quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock valued at $56,587,000 after purchasing an additional 1,495,500 shares in the last quarter. Alpine Associates Management Inc. purchased a new stake in HashiCorp during the 2nd quarter worth approximately $48,541,000. Finally, Westchester Capital Management LLC boosted its position in HashiCorp by 60.5% in the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock valued at $108,363,000 after buying an additional 1,206,073 shares during the period. Hedge funds and other institutional investors own 86.25% 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.