HashiCorp, Inc. (NASDAQ:HCP) Director Sells $130,500.00 in Stock

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

HashiCorp Trading Up 4.5 %

Shares of NASDAQ HCP traded up $1.41 during trading on Thursday, reaching $32.82. 36,291,285 shares of the company traded hands, compared to its average volume of 3,149,030. The firm’s fifty day simple moving average is $25.73 and its 200 day simple moving average is $23.30. The stock has a market cap of $6.55 billion, a P/E ratio of -33.61 and a beta of 1.42. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $36.39.

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

Hedge Funds Weigh In On HashiCorp

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in HashiCorp by 10.3% during the 4th quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock worth $253,484,000 after buying an additional 999,671 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. increased its stake in HashiCorp by 50.0% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after buying an additional 949,100 shares in the last quarter. First Trust Advisors LP increased its stake in HashiCorp by 35.7% during the 4th quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock worth $64,350,000 after buying an additional 716,574 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in HashiCorp by 10.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock worth $63,775,000 after buying an additional 254,720 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in HashiCorp by 16.2% during the 4th quarter. Federated Hermes Inc. now owns 2,112,284 shares of the company’s stock worth $49,934,000 after buying an additional 294,484 shares in the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HCP shares. Truist Financial reissued a “hold” rating and issued a $35.00 price objective (up previously from $27.00) on shares of HashiCorp in a research report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $34.00 price objective on shares of HashiCorp in a research report on Wednesday, March 6th. Bank of America raised their price objective on HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday. Stifel Nicolaus lifted their price target on HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Citigroup lifted their price target on HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 22nd. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, HashiCorp has an average rating of “Hold” and a consensus price target of $30.77.

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.