HashiCorp, Inc. (NASDAQ:HCP) Director Sigal Zarmi Sells 4,350 Shares

HashiCorp, Inc. (NASDAQ:HCP) Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total transaction of $130,500.00. Following the completion of the sale, the director now directly owns 37,991 shares in the company, valued at approximately $1,139,730. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

HashiCorp Stock Performance

NASDAQ HCP traded up $1.41 during trading hours on Thursday, reaching $32.82. 36,291,285 shares of the company’s stock were exchanged, compared to its average volume of 3,149,030. The company’s 50-day moving average is $25.73 and its two-hundred day moving average is $23.30. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $36.39. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of -33.61 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.06. The company had revenue of $155.78 million during the quarter, compared to analysts’ expectations of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. Research analysts predict that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HashiCorp

Hedge funds have recently made changes to their positions in the business. TimesSquare Capital Management LLC acquired a new stake in shares of HashiCorp in the 3rd quarter valued at approximately $55,774,000. Atreides Management LP acquired a new stake in HashiCorp during the 3rd quarter valued at $31,413,000. Artemis Investment Management LLP lifted its holdings in HashiCorp by 416.0% during the 1st quarter. Artemis Investment Management LLP now owns 1,555,104 shares of the company’s stock valued at $41,891,000 after purchasing an additional 1,253,723 shares during the last quarter. Vanguard Group Inc. lifted its holdings in HashiCorp by 10.3% during the 4th quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock valued at $253,484,000 after purchasing an additional 999,671 shares during the last quarter. Finally, Optimus Prime Fund Management Co. Ltd. lifted its holdings in HashiCorp by 50.0% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after purchasing an additional 949,100 shares during the last quarter. 87.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Bank of America upped their target price on shares of HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday. TD Cowen upped their target price 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. StockNews.com raised shares of HashiCorp from a “sell” rating to a “hold” rating in a report on Monday. Truist Financial reiterated a “hold” rating and set a $35.00 price target (up previously from $27.00) on shares of HashiCorp in a research report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of HashiCorp in a research report on Thursday. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.77.

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.