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 dated Wednesday, October 2nd. The stock was sold at an average price of $33.84, for a total value of $1,214,991.36. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,436,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 transaction of $1,213,555.20.
• On Friday, September 20th, Armon Dadgar sold 22,779 shares of HashiCorp stock. The stock was sold at an average price of $33.84, for a total transaction of $770,841.36.
• On Tuesday, September 3rd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.83, for a total value of $1,214,632.32.
• On Thursday, August 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.85, for a total transaction of $1,215,350.40.
• On Friday, August 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.71, for a total transaction of $1,210,323.84.
• On Monday, July 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.50, for a total transaction of $1,202,784.00.

HashiCorp Stock Performance

HCP opened at $33.93 on Friday. The company has a market capitalization of $6.82 billion, a P/E ratio of -35.34 and a beta of 1.25. The company has a 50-day moving average of $33.80 and a 200-day moving average of $32.17. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $34.06.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. During the same period in the previous year, the company earned ($0.34) earnings per share. HashiCorp’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts expect that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on HCP shares. Citigroup initiated coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, StockNews.com assumed coverage on HashiCorp in a report on Monday, September 30th. They issued a “hold” rating for the company. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.08.

Institutional Investors Weigh In On HashiCorp

Several institutional investors and hedge funds have recently made changes to their positions in HCP. American Capital Advisory LLC acquired a new position in HashiCorp in the second quarter worth $40,000. Advisors Asset Management Inc. lifted its position in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares during the last quarter. Covestor Ltd boosted its holdings in shares of HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after buying an additional 3,480 shares during the period. Quest Partners LLC grew its position in shares of HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in HashiCorp during the second quarter worth about $208,000. 87.83% of the stock is owned by institutional investors and hedge funds.

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.