HashiCorp, Inc. (NASDAQ:HCP) CEO David Mcjannet Sells 48,055 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the transaction, the chief executive officer now directly owns 419,531 shares in the company, valued at $14,196,929.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

HashiCorp Trading Down 0.2 %

HashiCorp stock opened at $33.82 on Tuesday. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $34.06. The business’s 50 day simple moving average is $33.74 and its 200 day simple moving average is $31.79. The company has a market cap of $6.80 billion, a price-to-earnings ratio of -35.23 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The business had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. HashiCorp’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.34) earnings per share. As a group, equities research analysts forecast that HashiCorp, Inc. will post -0.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on HCP. StockNews.com began coverage on HashiCorp in a report on Tuesday. They set a “hold” rating for the company. Piper Sandler reissued a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Finally, Citigroup started coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price for the company. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.08.

Institutional Investors Weigh In On HashiCorp

Several institutional investors have recently made changes to their positions in the stock. Xponance Inc. lifted its position in shares of HashiCorp by 3.1% during the second quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after acquiring an additional 305 shares in the last quarter. Comerica Bank lifted its position in shares of HashiCorp by 2.1% during the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after acquiring an additional 374 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of HashiCorp by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock worth $1,020,000 after acquiring an additional 420 shares in the last quarter. Advisors Asset Management Inc. lifted its position 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 acquiring an additional 961 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of HashiCorp by 3.5% during the second quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock worth $1,075,000 after acquiring an additional 1,065 shares in the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

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.