HashiCorp, Inc. (NASDAQ:HCP) CFO Sells $614,771.28 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 18,167 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $614,771.28. Following the completion of the sale, the chief financial officer now directly owns 105,883 shares in the company, valued at $3,583,080.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, August 22nd, Navam Welihinda sold 5,000 shares of HashiCorp stock. The stock was sold at an average price of $33.87, for a total transaction of $169,350.00.
• On Monday, July 22nd, Navam Welihinda sold 5,000 shares of HashiCorp stock. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00.

HashiCorp Stock Performance

NASDAQ HCP opened at $33.84 on Thursday. The business’s fifty day moving average is $33.75 and its 200 day 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. The company has a market capitalization of $6.80 billion, a PE ratio of -35.25 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same period in the previous year, the firm earned ($0.34) EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts forecast that HashiCorp, Inc. will post -0.48 EPS for the current year.

Institutional Trading of HashiCorp

Several institutional investors and hedge funds have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in HashiCorp by 2,195.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 968,500 shares of the company’s stock worth $32,629,000 after buying an additional 926,300 shares during the period. University of Texas Texas AM Investment Management Co. lifted its position in shares of HashiCorp by 298.0% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 397,124 shares of the company’s stock valued at $13,379,000 after acquiring an additional 297,341 shares in the last quarter. Water Island Capital LLC bought a new position in shares of HashiCorp in the second quarter worth about $37,762,000. Algert Global LLC grew its position in shares of HashiCorp by 13.6% during the second quarter. Algert Global LLC now owns 75,676 shares of the company’s stock worth $2,550,000 after purchasing an additional 9,036 shares in the last quarter. Finally, Murchinson Ltd. bought a new stake in HashiCorp during the 2nd quarter valued at approximately $3,369,000. 87.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HCP. StockNews.com initiated coverage on shares of HashiCorp in a research 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 report on Friday, August 30th. Citigroup started coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. Finally, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.08.

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.