HighVista Strategies LLC Takes Position in HashiCorp, Inc. (NASDAQ:HCP)

HighVista Strategies LLC purchased a new position in shares of HashiCorp, Inc. (NASDAQ:HCP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 130,200 shares of the company’s stock, valued at approximately $4,386,000. HashiCorp makes up approximately 1.6% of HighVista Strategies LLC’s portfolio, making the stock its 6th biggest position. HighVista Strategies LLC owned 0.06% of HashiCorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in HashiCorp by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after acquiring an additional 1,501,953 shares in the last quarter. Whale Rock Capital Management LLC increased its stake in shares of HashiCorp by 293.2% during the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after purchasing an additional 3,404,557 shares in the last quarter. Jericho Capital Asset Management L.P. increased its stake in shares of HashiCorp by 53.3% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after purchasing an additional 1,161,600 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. raised its position in shares of HashiCorp by 50.0% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after purchasing an additional 949,100 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in HashiCorp by 35.7% in the 4th quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock valued at $64,350,000 after buying an additional 716,574 shares in the last quarter. Institutional investors and hedge funds own 87.83% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $51,132,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $33.64, for a total transaction of $1,207,810.56. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,132,800. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ledger Susan St. sold 3,264 shares of the firm’s stock in a transaction on 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 directly owns 146,242 shares in the company, valued at approximately $4,891,794.90. The disclosure for this sale can be found here. Insiders sold 234,532 shares of company stock worth $7,901,335 over the last three months. 22.49% of the stock is owned by insiders.

HashiCorp Stock Performance

HashiCorp stock 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 firm has a 50 day moving average price of $33.73 and a 200 day moving average price of $31.73. The company has a market cap of $6.81 billion, a price-to-earnings ratio of -35.30 and a beta of 1.25.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. StockNews.com began coverage on HashiCorp in a research report on Wednesday, September 18th. They set a “hold” rating for the company. Piper Sandler restated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.08.

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.