Navam Welihinda Sells 3,000 Shares of HashiCorp, Inc. (NASDAQ:HCP) Stock

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $27.84, for a total transaction of $83,520.00. Following the sale, the chief financial officer now directly owns 93,925 shares in the company, valued at approximately $2,614,872. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, March 21st, Navam Welihinda sold 9,153 shares of HashiCorp stock. The stock was sold at an average price of $27.39, for a total transaction of $250,700.67.
• On Monday, February 26th, Navam Welihinda sold 2,500 shares of HashiCorp stock. The stock was sold at an average price of $25.00, for a total transaction of $62,500.00.
• On Thursday, February 22nd, Navam Welihinda sold 2,500 shares of HashiCorp stock. The stock was sold at an average price of $21.84, for a total transaction of $54,600.00.
• On Friday, February 9th, Navam Welihinda sold 5,000 shares of HashiCorp stock. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00.

HashiCorp Trading Up 7.8 %

HCP opened at $31.41 on Thursday. The firm has a fifty day moving average price of $25.73 and a 200 day moving average price of $23.30. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $36.39.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. The company had revenue of $155.78 million during the quarter, compared to analysts’ expectations of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. On average, research analysts forecast that HashiCorp, Inc. will post -0.8 EPS for the current year.

Analyst Upgrades and Downgrades

HCP has been the topic of several research analyst reports. TD Cowen boosted their target price on shares of HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Morgan Stanley raised shares of HashiCorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $23.00 to $30.00 in a report on Monday, February 26th. Stifel Nicolaus upped their price objective on shares of HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. KeyCorp began coverage on shares of HashiCorp in a report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of HashiCorp in a report on Wednesday, March 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, HashiCorp currently has an average rating of “Moderate Buy” and a consensus target price of $29.08.

Hedge Funds Weigh In On HashiCorp

A number of large investors have recently added to or reduced their stakes in HCP. Ronald Blue Trust Inc. raised its position in shares of HashiCorp by 327.8% in the third quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock valued at $47,000 after buying an additional 1,570 shares during the last quarter. SG Americas Securities LLC raised its position in shares of HashiCorp by 47.6% in the third quarter. SG Americas Securities LLC now owns 39,928 shares of the company’s stock valued at $912,000 after buying an additional 12,884 shares during the last quarter. Peregrine Capital Management LLC raised its position in shares of HashiCorp by 3.5% in the third quarter. Peregrine Capital Management LLC now owns 303,525 shares of the company’s stock valued at $6,929,000 after buying an additional 10,322 shares during the last quarter. Xponance Inc. raised its position in shares of HashiCorp by 6.7% in the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after buying an additional 673 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of HashiCorp by 10.5% in the third quarter. Bank of New York Mellon Corp now owns 337,516 shares of the company’s stock valued at $7,705,000 after buying an additional 32,006 shares during 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.