David Mcjannet Sells 47,526 Shares of HashiCorp, Inc. (NASDAQ:HCP) Stock

HashiCorp, Inc. (NASDAQ:HCP) CEO David Mcjannet sold 47,526 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the transaction, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This represents a 9.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

HashiCorp Price Performance

Shares of HCP stock traded down $0.03 during trading hours on Monday, hitting $34.24. The stock had a trading volume of 1,350,334 shares, compared to its average volume of 2,961,617. The stock’s 50 day moving average is $33.83 and its 200 day moving average is $33.76. HashiCorp, Inc. has a twelve month low of $20.89 and a twelve month high of $34.33. The firm has a market capitalization of $7.00 billion, a PE ratio of -56.13 and a beta of 1.21.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in shares of HashiCorp by 14.5% during the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after purchasing an additional 282,965 shares during the last quarter. New York Life Investment Management LLC purchased a new position in HashiCorp during the second quarter worth about $11,407,000. K2 Principal Fund L.P. purchased a new stake in HashiCorp in the 2nd quarter valued at approximately $2,966,000. Geode Capital Management LLC increased its position in HashiCorp by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after purchasing an additional 385,118 shares during the period. Finally, Alpine Associates Management Inc. boosted its stake in shares of HashiCorp by 48.7% in the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after buying an additional 701,350 shares in the last quarter. 86.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.