K2 Principal Fund L.P. Invests $2.97 Million in HashiCorp, Inc. (NASDAQ:HCP)

K2 Principal Fund L.P. purchased a new stake in shares of 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 88,050 shares of the company’s stock, valued at approximately $2,966,000.

A number of other large investors have also added to or reduced their stakes in the company. American Capital Advisory LLC bought a new position in shares of HashiCorp during the second quarter valued at approximately $40,000. Advisors Asset Management Inc. lifted its position in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after purchasing an additional 961 shares during the period. Covestor Ltd boosted its stake in shares of HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares in the last quarter. Quest Partners LLC raised its stake in HashiCorp by 9,736.1% in 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. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in HashiCorp in the second quarter worth about $208,000. Institutional investors own 87.83% of the company’s stock.

Insider Transactions at HashiCorp

In related news, CTO Armon Dadgar sold 35,904 shares of the 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 transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,132,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the sale, the chief executive officer now owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $33.64, for a total transaction of $1,207,810.56. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,132,800. The disclosure for this sale can be found here. Insiders sold 354,355 shares of company stock worth $11,957,418 over the last three months. 22.49% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on HCP. StockNews.com assumed coverage on HashiCorp in a report on Tuesday. They set a “hold” rating on the stock. Citigroup began coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Piper Sandler reissued a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Trading Down 0.2 %

HCP stock opened at $33.82 on Tuesday. The stock’s 50 day simple moving average is $33.74 and its 200 day simple moving average is $31.79. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $34.06. The stock has a market capitalization of $6.80 billion, a PE ratio of -35.23 and a beta of 1.25.

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

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.