Armon Dadgar Sells 35,904 Shares of HashiCorp, Inc. (NASDAQ:HCP) Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $32.72, for a total value of $1,174,778.88. Following the transaction, the chief technology officer now owns 1,589,356 shares in the company, valued at approximately $52,003,728.32. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, April 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $24.31, for a total value of $872,826.24.
• On Tuesday, April 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $25.69, for a total value of $922,373.76.
• On Thursday, March 21st, Armon Dadgar sold 10,241 shares of HashiCorp stock. The shares were sold at an average price of $27.39, for a total value of $280,500.99.
• On Thursday, February 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $21.82, for a total value of $783,425.28.

HashiCorp Stock Up 0.0 %

NASDAQ HCP opened at $32.80 on Wednesday. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $36.39. The business’s fifty day simple moving average is $27.38 and its 200-day simple moving average is $24.02. The firm has a market cap of $6.54 billion, a PE ratio of -33.47 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.06. The firm had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. Research analysts expect that HashiCorp, Inc. will post -0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

HCP has been the topic of several recent research reports. Piper Sandler lifted their target price on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. William Blair cut shares of HashiCorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 24th. Citigroup lifted their target price on shares of HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $34.00 target price on shares of HashiCorp in a research note on Wednesday, March 6th. Finally, StockNews.com raised shares of HashiCorp from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.77.

Institutional Trading of HashiCorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in HashiCorp by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock valued at $253,484,000 after buying an additional 999,671 shares during the period. Optimus Prime Fund Management Co. Ltd. raised its holdings in HashiCorp by 50.0% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after buying an additional 949,100 shares during the period. First Trust Advisors LP raised its holdings in 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. TimesSquare Capital Management LLC raised its holdings in HashiCorp by 10.4% in the 4th quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock valued at $63,775,000 after buying an additional 254,720 shares during the period. Finally, Federated Hermes Inc. raised its holdings in HashiCorp by 16.2% in the 4th quarter. Federated Hermes Inc. now owns 2,112,284 shares of the company’s stock valued at $49,934,000 after buying an additional 294,484 shares during the period. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

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.