HashiCorp, Inc. (NASDAQ:HCP) CMO Sells $365,990.80 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total value of $365,990.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Marc Holmes also recently made the following trade(s):

• On Thursday, March 21st, Marc Holmes sold 8,009 shares of HashiCorp stock. The stock was sold at an average price of $27.38, for a total value of $219,286.42.
• On Monday, February 12th, Marc Holmes sold 13,916 shares of HashiCorp stock. The stock was sold at an average price of $24.99, for a total value of $347,760.84.

HashiCorp Trading Down 5.9 %

NASDAQ:HCP opened at $24.55 on Friday. The firm has a market cap of $4.90 billion, a P/E ratio of -25.05 and a beta of 1.42. The stock’s 50 day simple moving average is $25.47 and its 200-day simple moving average is $23.15. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $36.39.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HCP. JPMorgan Chase & Co. increased its holdings in shares of HashiCorp by 48.0% in the first quarter. JPMorgan Chase & Co. now owns 11,204,309 shares of the company’s stock valued at $328,175,000 after purchasing an additional 3,635,247 shares during the period. BlackRock Inc. boosted its stake in shares of HashiCorp by 215.0% in the second quarter. BlackRock Inc. now owns 4,426,683 shares of the company’s stock valued at $115,891,000 after buying an additional 3,021,230 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of HashiCorp in the third quarter valued at approximately $55,774,000. Price T Rowe Associates Inc. MD boosted its stake in shares of HashiCorp by 26.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,435,341 shares of the company’s stock valued at $312,642,000 after buying an additional 2,368,102 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of HashiCorp by 78.3% in the third quarter. Vanguard Group Inc. now owns 3,187,233 shares of the company’s stock valued at $102,597,000 after buying an additional 1,400,042 shares in the last quarter. Institutional investors and hedge funds own 87.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HCP shares. BTIG Research boosted their target price on HashiCorp from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Piper Sandler restated a “neutral” rating and set a $25.00 target price (up previously from $22.00) on shares of HashiCorp in a research note on Wednesday, March 6th. StockNews.com cut HashiCorp from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Morgan Stanley upgraded HashiCorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $23.00 to $30.00 in a research note on Monday, February 26th. Finally, Scotiabank raised HashiCorp from a “sector perform” rating to a “sector outperform” rating and set a $31.00 price target on the stock in a research report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.77.

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.