Victory Capital Management Inc. Purchases 4,504 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Victory Capital Management Inc. increased its position in shares of HashiCorp, Inc. (NASDAQ:HCP) by 32.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,217 shares of the company’s stock after acquiring an additional 4,504 shares during the quarter. Victory Capital Management Inc.’s holdings in HashiCorp were worth $614,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Comerica Bank boosted its stake in HashiCorp by 2.1% during the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after acquiring an additional 374 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in HashiCorp by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock worth $1,020,000 after acquiring an additional 420 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after acquiring an additional 961 shares during the last quarter. American Capital Advisory LLC bought a new position in HashiCorp during the 2nd quarter worth approximately $40,000. Finally, Renaissance Capital LLC boosted its stake in HashiCorp by 3.0% during the 1st quarter. Renaissance Capital LLC now owns 63,964 shares of the company’s stock worth $1,724,000 after acquiring an additional 1,857 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

HashiCorp Stock Down 0.1 %

NASDAQ HCP opened at $33.89 on Monday. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $34.06. The company has a market capitalization of $6.81 billion, a PE ratio of -35.30 and a beta of 1.25. The firm’s 50 day moving average is $33.73 and its 200-day moving average is $31.73.

HashiCorp (NASDAQ:HCP) last released its 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 business had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. During the same period last year, the business earned ($0.34) earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts expect that HashiCorp, Inc. will post -0.59 EPS for the current year.

Insider Activity at HashiCorp

In related news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at $2,991,466.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other HashiCorp news, insider Ledger Susan St. sold 3,264 shares of HashiCorp 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 of the company’s stock, valued at $4,891,794.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total transaction of $169,350.00. Following the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at $2,991,466.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 234,532 shares of company stock valued at $7,901,335. 22.49% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

HashiCorp Company 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.