Quest Partners LLC Has $119,000 Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Quest Partners LLC grew its position in HashiCorp, Inc. (NASDAQ:HCP) by 9,736.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,541 shares of the company’s stock after acquiring an additional 3,505 shares during the period. Quest Partners LLC’s holdings in HashiCorp were worth $119,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. American Capital Advisory LLC bought a new position in HashiCorp in the second quarter valued at about $40,000. Advisors Asset Management Inc. boosted its position in HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares during the period. Covestor Ltd boosted its position in HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after buying an additional 3,480 shares during the period. Maryland State Retirement & Pension System bought a new stake in HashiCorp during the 2nd quarter worth approximately $247,000. Finally, CWM LLC increased its position in HashiCorp by 311.1% in the 2nd quarter. CWM LLC now owns 8,127 shares of the company’s stock valued at $274,000 after acquiring an additional 6,150 shares during the period. Institutional investors and hedge funds own 87.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup initiated coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. StockNews.com began coverage on HashiCorp in a research report on Thursday, September 12th. They issued a “hold” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, HashiCorp currently has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Up 0.4 %

NASDAQ HCP opened at $33.99 on Tuesday. The company has a market cap of $6.83 billion, a price-to-earnings ratio of -35.41 and a beta of 1.25. The business has a 50 day moving average price of $33.70 and a 200-day moving average price of $31.50. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $34.05.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. During the same period in the previous year, the firm posted ($0.34) earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that HashiCorp, Inc. will post -0.59 earnings per share for the current year.

Insider Activity

In related news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total transaction of $169,350.00. Following the completion of the sale, the chief financial officer now owns 88,322 shares in the company, valued at $2,991,466.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO David Mcjannet sold 48,055 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $33.26, for a total value of $1,598,309.30. Following the transaction, the chief executive officer now owns 373,330 shares in the company, valued at approximately $12,416,955.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at $2,991,466.14. The disclosure for this sale can be found here. Insiders have sold 406,736 shares of company stock worth $13,640,495 over the last 90 days. 22.49% of the stock is currently owned by corporate insiders.

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.