HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda Sells 17,397 Shares

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 17,397 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $33.47, for a total value of $582,277.59. Following the completion of the transaction, the chief financial officer now owns 95,485 shares of the company’s stock, valued at $3,195,882.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, June 20th, Navam Welihinda sold 18,271 shares of HashiCorp stock. The shares were sold at an average price of $33.26, for a total value of $607,693.46.
• On Wednesday, May 22nd, Navam Welihinda sold 5,000 shares of HashiCorp stock. The shares were sold at an average price of $33.34, for a total value of $166,700.00.
• On Tuesday, April 23rd, Navam Welihinda sold 3,000 shares of HashiCorp stock. The shares were sold at an average price of $27.84, for a total value of $83,520.00.

HashiCorp Stock Up 0.6 %

HashiCorp stock opened at $33.69 on Friday. The business’s 50-day simple moving average is $32.97 and its 200 day simple moving average is $27.25. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of -35.09 and a beta of 1.25. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $34.05.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. The business had revenue of $160.58 million for the quarter, compared to analysts’ expectations of $153.39 million. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. As a group, sell-side analysts expect that HashiCorp, Inc. will post -0.8 EPS for the current year.

Hedge Funds Weigh In On HashiCorp

Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares during the period. Covestor Ltd lifted its stake in HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after buying an additional 3,480 shares during the period. Industry Ventures L.L.C. acquired a new position in HashiCorp in the fourth quarter valued at about $157,000. SVB Wealth LLC acquired a new position in HashiCorp in the fourth quarter valued at about $273,000. Finally, Aristides Capital LLC acquired a new position in HashiCorp in the fourth quarter valued at about $286,000. Institutional investors own 87.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. William Blair lowered HashiCorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 24th. Bank of America upped their price target on HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. StockNews.com assumed coverage on HashiCorp in a research report on Wednesday. They issued a “hold” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Thursday, June 6th. Finally, Stifel Nicolaus upped their price target on HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.17.

HashiCorp Company Profile

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.