Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CTO Sells 17,800 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP - Get Free Report) CTO Armon Dadgar sold 17,800 shares of HashiCorp stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total value of $609,294.00. Following the transaction, the chief technology officer now owns 31,348 shares in the company, valued at $1,073,042.04. This represents a 36.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, December 2nd, Armon Dadgar sold 35,903 shares of HashiCorp stock. The stock was sold at an average price of $33.58, for a total transaction of $1,205,622.74.
• On Friday, November 22nd, Armon Dadgar sold 35,903 shares of HashiCorp stock. The shares were sold at an average price of $33.90, for a total transaction of $1,217,111.70.
• On Monday, November 4th, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.86, for a total transaction of $1,215,709.44.
• On Tuesday, October 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $33.82, for a total transaction of $1,214,273.28.
• On Wednesday, October 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $33.84, for a total transaction of $1,214,991.36.

HashiCorp Stock Performance

Shares of HashiCorp stock traded down $0.06 during trading on Thursday, reaching $34.18. The company's stock had a trading volume of 1,541,177 shares, compared to its average volume of 2,945,646. HashiCorp, Inc. has a one year low of $20.89 and a one year high of $34.33. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of -56.03 and a beta of 1.21. The business's fifty day moving average price is $33.85 and its 200-day moving average price is $33.77.

Analyst Ratings Changes

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

Institutional Investors Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently modified their holdings of HCP. Bank of New York Mellon Corp grew its position in HashiCorp by 42.3% during the second quarter. Bank of New York Mellon Corp now owns 675,550 shares of the company's stock worth $22,759,000 after buying an additional 200,837 shares in the last quarter. Maryland State Retirement & Pension System acquired a new stake in shares of HashiCorp during the 2nd quarter worth approximately $247,000. Picton Mahoney Asset Management bought a new stake in shares of HashiCorp during the second quarter valued at approximately $32,330,000. Pentwater Capital Management LP acquired a new position in shares of HashiCorp in the second quarter valued at $91,654,000. Finally, Versor Investments LP raised its stake in shares of HashiCorp by 123.6% in the second quarter. Versor Investments LP now owns 25,486 shares of the company's stock valued at $859,000 after purchasing an additional 14,086 shares in the last quarter. Institutional investors and hedge funds own 86.25% 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.