HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $1,205,622.74 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,903 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.58, for a total value of $1,205,622.74. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,041,600. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Armon Dadgar also recently made the following trade(s):

• On Friday, November 22nd, Armon Dadgar sold 35,903 shares of HashiCorp stock. The stock was sold at an average price of $33.90, for a total value of $1,217,111.70.
• On Monday, November 4th, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.86, for a total value of $1,215,709.44.
• On Tuesday, October 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.82, for a total value of $1,214,273.28.
• On Wednesday, October 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.84, for a total value of $1,214,991.36.
• On Monday, September 23rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.80, for a total value of $1,213,555.20.
• On Friday, September 20th, Armon Dadgar sold 22,779 shares of HashiCorp stock. The shares were sold at an average price of $33.84, for a total value of $770,841.36.

HashiCorp Stock Down 0.2 %

NASDAQ:HCP traded down $0.06 during trading hours on Wednesday, reaching $33.51. 1,311,089 shares of the stock were exchanged, compared to its average volume of 2,956,990. The business has a 50-day moving average of $33.84 and a two-hundred day moving average of $33.72. HashiCorp, Inc. has a twelve month low of $19.26 and a twelve month high of $34.21. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of -44.76 and a beta of 1.21.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HCP shares. Citigroup assumed coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. StockNews.com initiated coverage on shares of HashiCorp in a research note on Friday, November 29th. They set a “hold” rating on the stock. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, Piper Sandler restated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.08.

Institutional Trading of HashiCorp

Several hedge funds have recently modified their holdings of the stock. Westchester Capital Management LLC raised its stake in shares of HashiCorp by 60.5% in the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock valued at $108,363,000 after acquiring an additional 1,206,073 shares in the last quarter. Pentwater Capital Management LP acquired a new stake in shares of HashiCorp in the second quarter valued at $91,654,000. Geode Capital Management LLC raised its stake in shares of HashiCorp by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after acquiring an additional 385,118 shares in the last quarter. State Street Corp raised its stake in shares of HashiCorp by 14.5% in the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock valued at $75,841,000 after acquiring an additional 282,965 shares in the last quarter. Finally, Alpine Associates Management Inc. raised its stake in shares of HashiCorp by 48.7% in the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after acquiring an additional 701,350 shares in the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.