Gabelli Funds LLC Purchases Shares of 760,433 HashiCorp, Inc. (NASDAQ:HCP)

Gabelli Funds LLC purchased a new position in shares of HashiCorp, Inc. (NASDAQ:HCP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 760,433 shares of the company’s stock, valued at approximately $25,619,000. Gabelli Funds LLC owned about 0.38% of HashiCorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. ProShare Advisors LLC purchased a new stake in shares of HashiCorp during the 2nd quarter worth approximately $251,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in HashiCorp during the 2nd quarter worth $857,000. XTX Topco Ltd acquired a new stake in HashiCorp during the 2nd quarter worth $494,000. Highbridge Capital Management LLC purchased a new stake in HashiCorp in the second quarter valued at $21,229,000. Finally, Hsbc Holdings PLC acquired a new position in HashiCorp in the second quarter valued at $26,998,000. 87.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at HashiCorp

In related news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction dated 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 sale, the chief marketing officer now owns 4,368 shares in the company, valued at $147,638.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the sale, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at $147,638.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $33.64, for a total value of $1,207,810.56. Following the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,132,800. The disclosure for this sale can be found here. Insiders have sold a total of 234,532 shares of company stock valued at $7,901,335 in the last ninety days. 22.49% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com started coverage on HashiCorp in a research report on Wednesday, September 18th. They set a “hold” rating on the stock. Citigroup assumed coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Finally, Piper Sandler restated a “neutral” rating and set a $35.00 target price 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.08.

HashiCorp Trading Down 0.1 %

Shares of HCP opened at $33.89 on Monday. The stock’s 50 day moving average is $33.73 and its two-hundred day moving average is $31.73. HashiCorp, Inc. has a twelve month low of $18.91 and a twelve month high of $34.06. The firm has a market capitalization of $6.81 billion, a PE ratio of -35.30 and a beta of 1.25.

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

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.