Navam Welihinda Sells 5,000 Shares of HashiCorp, Inc. (NASDAQ:HCP) Stock

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 5,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the completion of the transaction, the chief financial officer now owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, July 22nd, Navam Welihinda sold 5,000 shares of HashiCorp stock. The shares were sold at an average price of $33.50, for a total transaction of $167,500.00.
• On Monday, June 24th, Navam Welihinda sold 17,397 shares of HashiCorp stock. The stock was sold at an average price of $33.47, for a total transaction of $582,277.59.
• 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.

HashiCorp Price Performance

Shares of NASDAQ HCP traded up $0.03 during midday trading on Friday, hitting $33.90. The stock had a trading volume of 1,682,910 shares, compared to its average volume of 3,454,025. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $34.05. The firm has a market cap of $6.82 billion, a P/E ratio of -35.31 and a beta of 1.25. The company’s 50-day simple moving average is $33.62 and its 200 day simple moving average is $30.30.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.02. The firm had revenue of $160.58 million during 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%. Equities analysts expect that HashiCorp, Inc. will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On HashiCorp

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after buying an additional 1,501,953 shares during the last quarter. Whale Rock Capital Management LLC raised its holdings in HashiCorp by 293.2% in 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. raised its holdings in 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 worth $89,985,000 after purchasing an additional 1,161,600 shares during the period. Optimus Prime Fund Management Co. Ltd. boosted its position in shares of HashiCorp by 50.0% during the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after purchasing an additional 949,100 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of HashiCorp by 35.7% in the 4th quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock valued at $64,350,000 after buying an additional 716,574 shares during the period. 87.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on HCP shares. Piper Sandler upped their price target on HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Thursday, June 6th. StockNews.com assumed coverage on shares of HashiCorp in a report on Monday. They set a “hold” rating for the company. Truist Financial reaffirmed a “hold” rating and set a $35.00 price objective (up previously from $27.00) on shares of HashiCorp in a report on Thursday, April 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of HashiCorp in a research note on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.17.

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.