Highbridge Capital Management LLC Takes Position in HashiCorp, Inc. (NASDAQ:HCP)

Highbridge Capital Management LLC bought a new stake in HashiCorp, Inc. (NASDAQ:HCP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 630,114 shares of the company’s stock, valued at approximately $21,229,000. Highbridge Capital Management LLC owned about 0.31% of HashiCorp at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC bought a new position in HashiCorp in the 2nd quarter worth approximately $26,998,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of HashiCorp during the second quarter valued at $208,000. Renaissance Technologies LLC boosted its holdings in HashiCorp by 60.2% in the second quarter. Renaissance Technologies LLC now owns 1,071,800 shares of the company’s stock valued at $36,109,000 after acquiring an additional 402,800 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in HashiCorp in the second quarter worth about $48,541,000. Finally, American Century Companies Inc. bought a new stake in HashiCorp during the 2nd quarter worth about $283,000. Institutional investors own 87.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. StockNews.com started coverage on shares of HashiCorp in a report on Wednesday. They set a “hold” rating for the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday. Finally, Citigroup assumed coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.08.

HashiCorp Price Performance

NASDAQ:HCP opened at $33.92 on Thursday. The business’s 50-day simple moving average is $33.72 and its 200-day simple moving average is $31.57. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The stock has a market capitalization of $6.82 billion, a PE ratio of -35.33 and a beta of 1.25.

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

Insider Buying and Selling

In other HashiCorp news, insider Ledger Susan St. sold 3,264 shares of HashiCorp stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $33.45, for a total value of $109,180.80. Following the sale, the insider now owns 146,242 shares of the company’s stock, valued at approximately $4,891,794.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ledger Susan St. sold 3,264 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $33.45, for a total transaction of $109,180.80. Following the completion of the transaction, the insider now directly owns 146,242 shares in the company, valued at $4,891,794.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Armon Dadgar sold 21,137 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $33.48, for a total value of $707,666.76. Following the completion of the sale, the chief technology officer now owns 23,234 shares in the company, valued at approximately $777,874.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 286,794 shares of company stock valued at $9,650,892. Company insiders own 22.49% of the company’s stock.

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.