HashiCorp, Inc. (NASDAQ:) Chief Marketing Officer Marc Holmes recently sold shares in the company, according to a new regulatory filing. Holmes executed a sale of 13,916 shares of Class A Common Stock on May 10, 2024, at a weighted average price of $32.7875, netting a total of approximately $456,270.
The sale was conducted under a prearranged 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. This plan had been adopted by Holmes on June 23, 2023.
Investors tracking insider transactions often pay close attention to such sales as they may provide insights into an insider’s perspective on the company’s current valuation or future prospects. However, it’s important to note that insider sales can be motivated by a variety of factors and may not necessarily indicate a negative outlook.
The price range for the shares sold by Holmes was from $32.75 to $32.80. The specific number of shares sold at each price point within the range can be provided upon request to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission.
In addition to the sale, the filing also reported on derivative transactions involving Employee Stock Options (right to buy) and Class B Common Stock. These transactions are part of the executive’s compensation and financial planning strategy and are not directly related to the market performance of the company’s stock.
HashiCorp, based in San Francisco, California, specializes in computer programming services and is known for its infrastructure automation products for cloud computing.
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For investors looking to follow the company’s insider transactions, the latest filing provides a detailed account of the recent activity, which can be found in the SEC’s EDGAR database.
InvestingPro Insights
As HashiCorp’s Chief Marketing Officer Marc Holmes cashes in on his shares, investors might be curious about the company’s financial health and market performance. HashiCorp’s recent metrics from InvestingPro shed light on its current standing. With a market capitalization of $6.61 billion, the company holds a notable position in its sector. Despite a negative P/E ratio of -33.36, reflecting challenges in profitability over the last twelve months, HashiCorp boasts an impressive gross profit margin of…
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