HashiCorp, Inc. (NASDAQ:HCP – Get Free Report) CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the sale, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
HashiCorp Stock Performance
HCP stock opened at $34.24 on Thursday. The company’s 50 day moving average price is $33.84 and its 200 day moving average price is $33.76. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of -56.13 and a beta of 1.21. HashiCorp, Inc. has a fifty-two week low of $20.89 and a fifty-two week high of $34.33.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on HCP. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Citigroup assumed coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Finally, StockNews.com initiated coverage on HashiCorp in a research report on Monday. They issued a “hold” rating for the company. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.08.
Institutional Investors Weigh In On HashiCorp
A number of large investors have recently modified their holdings of HCP. Principal Financial Group Inc. lifted its position in shares of HashiCorp by 41.9% during the 3rd quarter. Principal Financial Group Inc. now owns 11,516 shares of the company’s stock worth $390,000 after purchasing an additional 3,399 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in HashiCorp during the 3rd quarter worth about $2,400,000. Geode Capital Management LLC increased its holdings in shares of HashiCorp by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after acquiring an additional 385,118 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of HashiCorp by 39.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock worth $1,735,000 after acquiring an additional 14,555 shares in the last quarter. Finally, K2 Principal Fund L.P. lifted its stake in HashiCorp by 34.0% during the third quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company’s stock worth $3,994,000 after purchasing an additional 29,901 shares during the last quarter. 86.25% of the stock is owned by hedge funds and other institutional investors.
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.
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