Wellington Management Group LLP Sells 1,894,170 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Wellington Management Group LLP cut its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 95.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,131 shares of the company’s stock after selling 1,894,170 shares during the quarter. Wellington Management Group LLP’s holdings in HashiCorp were worth $2,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Industry Ventures L.L.C. purchased a new position in shares of HashiCorp in the fourth quarter valued at about $157,000. SVB Wealth LLC purchased a new position in HashiCorp during the 4th quarter valued at about $273,000. Aristides Capital LLC bought a new position in HashiCorp during the 4th quarter valued at approximately $286,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in HashiCorp in the 3rd quarter worth approximately $309,000. Finally, Victory Capital Management Inc. grew its position in shares of HashiCorp by 28.8% in the 4th quarter. Victory Capital Management Inc. now owns 13,622 shares of the company’s stock worth $322,000 after buying an additional 3,046 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors.

HashiCorp Stock Performance

NASDAQ:HCP opened at $33.66 on Tuesday. The firm has a market cap of $6.77 billion, a P/E ratio of -35.06 and a beta of 1.25. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $34.05. The firm has a 50-day simple moving average of $33.16 and a two-hundred day simple moving average of $27.40.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. The company had revenue of $160.58 million during the quarter, compared to the consensus estimate of $153.39 million. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. On average, equities research analysts predict that HashiCorp, Inc. will post -0.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. TD Cowen lifted their price target on shares of HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Stifel Nicolaus boosted their price target on shares of HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Thursday, June 6th. William Blair downgraded HashiCorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 24th. Finally, Bank of America raised their target price on HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.17.

Insider Activity

In other news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total value of $365,990.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $26.30, for a total value of $365,990.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total value of $130,500.00. Following the sale, the director now owns 37,991 shares of the company’s stock, valued at approximately $1,139,730. The disclosure for this sale can be found here. Insiders have sold a total of 359,266 shares of company stock valued at $11,517,392 over the last ninety days. 22.49% of the stock is currently owned by corporate insiders.

HashiCorp 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.