HashiCorp, Inc. (NASDAQ:HCP) CTO Sells $609,294.00 in Stock

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 17,800 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the sale, the chief technology officer now directly owns 31,348 shares in the company, valued at $1,073,042.04. The trade was a 36.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $33.58, for a total value of $1,205,622.74.
• On Friday, November 22nd, Armon Dadgar sold 35,903 shares of HashiCorp stock. The stock was sold at an average price of $33.90, for a total value 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 shares were sold at an average price of $33.84, for a total value of $1,214,991.36.

HashiCorp Trading Down 0.2 %

HCP traded down $0.06 during trading on Thursday, hitting $34.18. 1,540,748 shares of the company traded hands, compared to its average volume of 2,942,518. The company has a market cap of $6.99 billion, a PE ratio of -56.03 and a beta of 1.21. The stock’s 50-day simple moving average is $33.85 and its two-hundred day simple moving average is $33.77. HashiCorp, Inc. has a 1 year low of $20.89 and a 1 year high of $34.33.

Institutional Investors Weigh In On HashiCorp

Hedge funds have recently made changes to their positions in the company. Pentwater Capital Management LP purchased a new position in HashiCorp during the 2nd quarter valued at approximately $91,654,000. Magnetar Financial LLC purchased a new position in shares of HashiCorp in the second quarter valued at $71,490,000. ING Groep NV increased its position in HashiCorp by 851.2% in the third quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock worth $56,587,000 after purchasing an additional 1,495,500 shares during the last quarter. Alpine Associates Management Inc. bought a new position in HashiCorp during the second quarter valued at $48,541,000. Finally, Westchester Capital Management LLC grew its stake in shares of HashiCorp by 60.5% in the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock worth $108,363,000 after buying an additional 1,206,073 shares in the last quarter. 86.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HCP has been the subject of a number of research analyst reports. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com initiated coverage on shares of HashiCorp in a report on Monday. They issued a “hold” rating on the stock. Finally, Citigroup started coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. 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 presently has a consensus rating of “Hold” and a consensus price target of $32.08.

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.