Navam Welihinda Sells 18,271 Shares of HashiCorp, Inc. (NASDAQ:HCP) Stock

HashiCorp, Inc. (NASDAQ:HCP) CFO Navam Welihinda sold 18,271 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $33.26, for a total transaction of $607,693.46. Following the sale, the chief financial officer now owns 111,882 shares in the company, valued at $3,721,195.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, May 22nd, Navam Welihinda sold 5,000 shares of HashiCorp stock. The stock was sold at an average price of $33.34, for a total transaction of $166,700.00.
• On Tuesday, April 23rd, Navam Welihinda sold 3,000 shares of HashiCorp stock. The stock was sold at an average price of $27.84, for a total transaction of $83,520.00.

HashiCorp Trading Down 0.1 %

HCP stock opened at $33.44 on Wednesday. The company has a market capitalization of $6.72 billion, a P/E ratio of -34.83 and a beta of 1.25. HashiCorp, Inc. has a twelve month low of $18.91 and a twelve month high of $34.05. The business has a 50 day simple moving average of $32.38 and a 200-day simple moving average of $27.07.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. The business had revenue of $160.58 million during the quarter, compared to the consensus estimate of $153.39 million. Research analysts predict that HashiCorp, Inc. will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On HashiCorp

Several hedge funds have recently modified their holdings of HCP. Advisors Asset Management Inc. lifted its holdings in shares of HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after purchasing an additional 961 shares during the period. Covestor Ltd lifted its holdings in shares of HashiCorp by 12,888.9% during the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after purchasing an additional 3,480 shares during the period. Industry Ventures L.L.C. acquired a new stake in shares of HashiCorp during the fourth quarter worth $157,000. SVB Wealth LLC acquired a new stake in shares of HashiCorp during the fourth quarter worth $273,000. Finally, Aristides Capital LLC acquired a new stake in shares of HashiCorp during the fourth quarter worth $286,000. 87.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on HCP. Truist Financial restated a “hold” rating and set a $35.00 target price (up from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. William Blair lowered shares of HashiCorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 24th. Needham & Company LLC reiterated a “hold” rating on shares of HashiCorp in a research note on Thursday, April 25th. Scotiabank reiterated a “sector perform” rating and issued a $35.00 price target (up from $31.00) on shares of HashiCorp in a research note on Thursday, April 25th. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Thursday, June 6th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.17.

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.