HashiCorp, Inc. (NASDAQ:HCP) Insider Sells $490,144.05 in Stock

HashiCorp, Inc. (NASDAQ:HCP) insider Ledger Susan St. sold 17,895 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total value of $490,144.05. Following the sale, the insider now owns 121,702 shares of the company’s stock, valued at approximately $3,333,417.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

HashiCorp Stock Performance

Shares of HCP remained flat at $27.11 on Friday. The company had a trading volume of 1,500,166 shares, compared to its average volume of 2,588,720. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $36.39. The business has a 50-day moving average price of $24.19 and a 200 day moving average price of $23.04. The firm has a market capitalization of $5.31 billion, a PE ratio of -27.66 and a beta of 1.41.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HCP shares. Needham & Company LLC boosted their price target on HashiCorp from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. BTIG Research lifted their price target on HashiCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. TD Cowen upped their price target on shares of HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Piper Sandler reissued a “neutral” rating and issued a $25.00 price target (up from $22.00) on shares of HashiCorp in a research note on Wednesday, March 6th. Finally, KeyCorp began coverage on shares of HashiCorp in a report on Tuesday. They issued a “sector weight” rating on the stock. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.77.

Institutional Investors Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently modified their holdings of HCP. Price T Rowe Associates Inc. MD increased its stake in shares of HashiCorp by 26.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,435,341 shares of the company’s stock worth $312,642,000 after purchasing an additional 2,368,102 shares in the last quarter. JPMorgan Chase & Co. increased its position in HashiCorp by 48.0% during the first quarter. JPMorgan Chase & Co. now owns 11,204,309 shares of the company’s stock worth $328,175,000 after purchasing an additional 3,635,247 shares during the last quarter. Vanguard Group Inc. raised its holdings in HashiCorp by 10.3% in the fourth quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock valued at $253,484,000 after acquiring an additional 999,671 shares in the last quarter. BlackRock Inc. boosted its position in shares of HashiCorp by 215.0% during the 2nd quarter. BlackRock Inc. now owns 4,426,683 shares of the company’s stock valued at $115,891,000 after purchasing an additional 3,021,230 shares in the last quarter. Finally, Optimus Prime Fund Management Co. Ltd. lifted its position in shares of HashiCorp by 50.0% in the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after purchasing an additional 949,100 shares in the last quarter. 45.93% of the stock is currently owned by hedge funds and other institutional investors.

About HashiCorp

HashiCorp, Inc provides multi-cloud infrastructure automation solutions worldwide. The company offers Terraform, an infrastructure provisioning product that applies an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; and Vault, a secrets management and data protection product, which enables security teams to apply policies based on application and user identity to govern access to credentials and secure sensitive data.