Renaissance Technologies LLC Has $36.11 Million Position in HashiCorp, Inc. (NASDAQ:HCP)

Renaissance Technologies LLC boosted its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP) by 60.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,071,800 shares of the company’s stock after buying an additional 402,800 shares during the period. Renaissance Technologies LLC owned approximately 0.53% of HashiCorp worth $36,109,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Alpine Associates Management Inc. acquired a new stake in shares of HashiCorp in the 2nd quarter worth about $48,541,000. American Century Companies Inc. purchased a new stake in shares of HashiCorp in the second quarter worth approximately $283,000. EDBI Pte Ltd bought a new position in shares of HashiCorp in the second quarter valued at approximately $219,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of HashiCorp during the second quarter valued at approximately $246,000. Finally, Quest Partners LLC grew its holdings in HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares in the last quarter. 87.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

HCP has been the topic of a number of analyst reports. StockNews.com assumed coverage on shares of HashiCorp in a report on Wednesday. They set a “hold” rating on the stock. Citigroup assumed coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday. Finally, Piper Sandler restated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Price Performance

Shares of HCP opened at $33.92 on Thursday. The firm has a market cap of $6.82 billion, a PE ratio of -35.33 and a beta of 1.25. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $34.06. The stock’s fifty day moving average price is $33.72 and its two-hundred day moving average price is $31.57.

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

Insider Transactions at HashiCorp

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at approximately $147,638.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the transaction, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $147,638.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total transaction of $1,214,632.32. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,421,600. The disclosure for this sale can be found here. Insiders sold 286,794 shares of company stock valued at $9,650,892 over the last three months. Company insiders own 22.49% of the company’s stock.

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.