Murchinson Ltd. Acquires Shares of 62,500 HashiCorp, Inc. (NASDAQ:HCP)

Murchinson Ltd. bought a new position in shares of HashiCorp, Inc. (NASDAQ:HCP) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 62,500 shares of the company’s stock, valued at approximately $2,106,000. HashiCorp accounts for approximately 0.4% of Murchinson Ltd.’s holdings, making the stock its 22nd biggest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new position in HashiCorp in the 2nd quarter valued at about $1,828,000. Slotnik Capital LLC acquired a new position in shares of HashiCorp during the second quarter valued at approximately $34,447,000. Sagefield Capital LP purchased a new position in shares of HashiCorp in the second quarter valued at approximately $401,000. Xponance Inc. boosted its stake in shares of HashiCorp by 3.1% in the second quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after acquiring an additional 305 shares during the last quarter. Finally, P Schoenfeld Asset Management LP acquired a new stake in shares of HashiCorp in the second quarter worth approximately $19,763,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Insider Transactions at HashiCorp

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

Analysts Set New Price Targets

HCP has been the subject of several recent research reports. Citigroup initiated coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Piper Sandler restated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Finally, StockNews.com assumed coverage on shares of HashiCorp in a report on Tuesday. They issued a “hold” rating for the company. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.08.

HashiCorp Stock Down 0.2 %

NASDAQ:HCP opened at $33.82 on Tuesday. The company has a market capitalization of $6.80 billion, a P/E ratio of -35.23 and a beta of 1.25. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $34.06. The stock’s fifty day moving average is $33.74 and its two-hundred day moving average is $31.79.

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

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.