Insider Selling: HashiCorp, Inc. (NASDAQ:HCP) CTO Sells 10,241 Shares of Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 10,241 shares of HashiCorp stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $27.39, for a total value of $280,500.99. Following the sale, the chief technology officer now directly owns 144,820 shares in the company, valued at $3,966,619.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, February 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $21.82, for a total value of $783,425.28.
• On Friday, February 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The stock was sold at an average price of $23.02, for a total value of $826,510.08.
• On Monday, January 22nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $21.94, for a total transaction of $787,733.76.
• On Tuesday, January 2nd, Armon Dadgar sold 35,904 shares of HashiCorp stock. The shares were sold at an average price of $22.90, for a total transaction of $822,201.60.

HashiCorp Price Performance

HCP stock remained flat at $27.11 during trading on Friday. 1,500,166 shares of the company’s stock traded hands, compared to its average volume of 2,588,720. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $36.39. The firm has a 50 day simple moving average of $24.19 and a two-hundred day simple moving average 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 issued reports on HCP shares. Stifel Nicolaus lifted their price objective on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Morgan Stanley raised shares of HashiCorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $23.00 to $30.00 in a report on Monday, February 26th. Bank of America boosted their price target on shares of HashiCorp from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price objective (up from $22.00) on shares of HashiCorp in a report on Wednesday, March 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $38.00 price target on shares of HashiCorp in a research report on Thursday, March 7th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.77.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HCP. Citigroup Inc. boosted its holdings in shares of HashiCorp by 167.6% in the 4th quarter. Citigroup Inc. now owns 918 shares of the company’s stock valued at $25,000 after buying an additional 575 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of HashiCorp during the 1st quarter valued at approximately $33,000. American International Group Inc. purchased a new stake in HashiCorp in the 2nd quarter worth $38,000. Tower Research Capital LLC TRC grew its holdings in shares of HashiCorp by 82.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company’s stock worth $39,000 after buying an additional 766 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of HashiCorp by 94.8% during the third quarter. Advisors Asset Management Inc. now owns 1,761 shares of the company’s stock worth $40,000 after buying an additional 857 shares in the last quarter. Hedge funds and other institutional investors own 45.93% of the company’s stock.

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.