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

HashiCorp, Inc. (NASDAQ:HCP) CTO Armon Dadgar sold 17,800 shares of the 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 completion of the transaction, the chief technology officer now directly owns 31,348 shares of the company’s stock, valued at approximately $1,073,042.04. This represents a 36.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 stock was 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 shares were 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 stock was 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 Stock Performance

NASDAQ:HCP opened at $34.18 on Friday. HashiCorp, Inc. has a fifty-two week low of $20.89 and a fifty-two week high of $34.33. The company has a 50 day moving average price of $33.86 and a 200 day moving average price of $33.77. The stock has a market capitalization of $6.99 billion, a P/E ratio of -56.03 and a beta of 1.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HCP. Westchester Capital Management LLC increased its position in shares of HashiCorp by 60.5% during the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock worth $108,363,000 after acquiring an additional 1,206,073 shares during the period. Pentwater Capital Management LP purchased a new stake in shares of HashiCorp in the 2nd quarter valued at about $91,654,000. Geode Capital Management LLC raised its holdings in shares of HashiCorp by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after buying an additional 385,118 shares during the last quarter. State Street Corp lifted its position in HashiCorp by 14.5% during the 3rd quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after acquiring an additional 282,965 shares during the period. Finally, Alpine Associates Management Inc. raised its stake in shares of HashiCorp by 48.7% during the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after purchasing an additional 701,350 shares during the last quarter. 86.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Piper Sandler reissued a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Citigroup initiated coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. Finally, StockNews.com assumed coverage on shares of HashiCorp in a report on Monday. They issued a “hold” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, HashiCorp currently has a consensus rating of “Hold” and an average 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.