2,121,984 Shares in HashiCorp, Inc. (NASDAQ:HCP) Purchased by Magnetar Financial LLC

Magnetar Financial LLC purchased a new stake in HashiCorp, Inc. (NASDAQ:HCP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,121,984 shares of the company’s stock, valued at approximately $71,490,000. HashiCorp accounts for approximately 1.5% of Magnetar Financial LLC’s holdings, making the stock its 21st largest position. Magnetar Financial LLC owned 1.06% of HashiCorp as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in HCP. HighVista Strategies LLC purchased a new position in HashiCorp in the second quarter worth approximately $4,386,000. Gabelli Funds LLC acquired a new position in HashiCorp in the second quarter valued at about $25,619,000. ProShare Advisors LLC purchased a new position in HashiCorp during the second quarter worth about $251,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of HashiCorp during the second quarter valued at about $857,000. Finally, XTX Topco Ltd acquired a new position in shares of HashiCorp in the 2nd quarter worth approximately $494,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

Insider Buying and Selling

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the sale, the chief financial officer now owns 91,485 shares of the company’s stock, valued at $3,064,747.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other HashiCorp news, insider Ledger Susan St. sold 3,264 shares of HashiCorp stock in a transaction dated Tuesday, June 25th. The shares were 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 owns 146,242 shares in the company, valued at $4,891,794.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total transaction of $167,500.00. Following the completion of the sale, the chief financial officer now owns 91,485 shares in the company, valued at $3,064,747.50. The disclosure for this sale can be found here. Insiders have sold 234,532 shares of company stock valued at $7,901,335 over the last quarter. Company insiders own 22.49% of the company’s stock.

HashiCorp Stock Performance

Shares of HCP opened at $33.89 on Monday. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $34.06. The stock has a market capitalization of $6.81 billion, a P/E ratio of -35.30 and a beta of 1.25. The company’s fifty day moving average is $33.73 and its two-hundred day moving average is $31.73.

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. 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 during the quarter, compared to analysts’ expectations of $157.22 million. During the same period in the prior year, the company posted ($0.34) earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. Sell-side analysts predict that HashiCorp, Inc. will post -0.59 EPS for the current year.

Wall Street Analysts Forecast Growth

HCP has been the topic of a number of research reports. Citigroup started coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. StockNews.com initiated coverage on shares of HashiCorp in a research note on Wednesday, September 18th. They issued a “hold” rating for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and set 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.08.

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.