Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) Director Sells 4,350 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) Director Sigal Zarmi sold 4,350 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total transaction of $130,500.00. Following the transaction, the director now owns 37,991 shares in the company, valued at approximately $1,139,730. The transaction was disclosed in a document filed with the SEC, which is available at this link.

HashiCorp Price Performance

Shares of NASDAQ:HCP opened at $32.59 on Friday. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $36.39. The company has a 50 day moving average of $26.08 and a 200-day moving average of $23.44. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of -33.25 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate 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%. Equities research analysts anticipate that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

Analysts Set New Price Targets

HCP has been the topic of a number of research analyst reports. BTIG Research lowered shares of HashiCorp from a “buy” rating to a “neutral” rating in a research note on Wednesday. Scotiabank restated a “sector perform” rating and issued a $35.00 price target (up from $31.00) on shares of HashiCorp in a research report on Thursday. Morgan Stanley upgraded shares of HashiCorp from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $30.00 in a research report on Monday, February 26th. StockNews.com upgraded shares of HashiCorp from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. Finally, KeyCorp initiated coverage on shares of HashiCorp in a research report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.77.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its holdings in HashiCorp by 35.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after purchasing an additional 615 shares during the period. Industry Ventures L.L.C. bought a new stake in shares of HashiCorp in the fourth quarter worth $157,000. Victory Capital Management Inc. lifted its position in shares of HashiCorp by 35.5% in the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after purchasing an additional 2,768 shares in the last quarter. Xponance Inc. lifted 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 worth $244,000 after purchasing an additional 673 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of HashiCorp by 10.0% in the third quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock worth $246,000 after purchasing an additional 978 shares in the last quarter. Institutional investors and hedge funds own 87.83% of the company’s stock.

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.