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

HashiCorp, Inc. (NASDAQ:HCP) 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 value of $1,626,339.72. Following the sale, the chief executive officer now directly owns 465,978 shares in the company, valued at $15,945,767.16. The trade was 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 Stock Performance

HashiCorp stock opened at $34.24 on Wednesday. The stock 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 52-week low of $20.89 and a 52-week high of $34.33. The stock’s 50 day moving average price is $33.83 and its two-hundred day moving average price is $33.76.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HCP. Longfellow Investment Management Co. LLC acquired a new position in HashiCorp during the 3rd quarter worth approximately $38,000. American Capital Advisory LLC bought a new stake in shares of HashiCorp during the second quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HashiCorp during the third quarter worth approximately $51,000. Quest Partners LLC lifted its holdings in shares of HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after purchasing an additional 3,505 shares in the last quarter. Finally, KBC Group NV grew its position in HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after purchasing an additional 731 shares during the period. 86.25% of the stock is owned by institutional investors.

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.