HashiCorp, Inc. (NASDAQ:HCP) CEO Sells $1,626,181.20 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CEO David Mcjannet sold 48,055 shares of HashiCorp stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the transaction, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

HashiCorp Stock Up 0.0 %

Shares of NASDAQ HCP opened at $33.84 on Thursday. The stock has a market cap of $6.80 billion, a P/E ratio of -35.25 and a beta of 1.25. The firm’s 50-day simple moving average is $33.75 and its 200 day simple moving average is $31.85. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $34.06.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The company had revenue of $165.14 million for 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 in the previous year, the firm earned ($0.34) EPS. On average, sell-side analysts anticipate that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HashiCorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HCP. American Capital Advisory LLC acquired a new stake in shares of HashiCorp in the second quarter valued at $40,000. Advisors Asset Management Inc. lifted its holdings in HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after acquiring an additional 961 shares during the last quarter. Covestor Ltd boosted its position in shares of HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares in the last quarter. Quest Partners LLC grew its stake in shares of HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after purchasing an additional 3,505 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of HashiCorp in the 2nd quarter worth approximately $208,000. 87.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.