Sagefield Capital LP Makes New $401,000 Investment in HashiCorp, Inc. (NASDAQ:HCP)

Sagefield Capital LP acquired a new stake in HashiCorp, Inc. (NASDAQ:HCP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,900 shares of the company’s stock, valued at approximately $401,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in HashiCorp by 14.0% during the first 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 lifted its stake in shares of HashiCorp by 293.2% in the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock valued at $123,046,000 after purchasing an additional 3,404,557 shares during the period. Jericho Capital Asset Management L.P. lifted its stake in shares of HashiCorp by 53.3% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock valued at $89,985,000 after purchasing an additional 1,161,600 shares during the period. Optimus Prime Fund Management Co. Ltd. boosted its holdings in HashiCorp by 50.0% during the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after buying an additional 949,100 shares in the last quarter. Finally, First Trust Advisors LP grew its position in HashiCorp by 35.7% during the fourth 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 during the period. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HCP. StockNews.com initiated coverage on shares of HashiCorp in a research report on Tuesday. They issued a “hold” rating for the company. Citigroup began coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target for the company. Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Finally, JMP Securities restated a “market perform” rating on shares of HashiCorp in a research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Down 0.2 %

Shares of HCP opened at $33.82 on Tuesday. HashiCorp, Inc. has a 52-week low of $18.91 and a 52-week high of $34.06. The stock has a market cap of $6.80 billion, a PE ratio of -35.23 and a beta of 1.25. The firm’s fifty day moving average is $33.74 and its two-hundred day moving average is $31.79.

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%. HashiCorp’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.34) EPS. As a group, research analysts anticipate that HashiCorp, Inc. will post -0.59 earnings per share for the current year.

Insider Activity at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00. Following the transaction, the chief financial officer now owns 91,485 shares of the company’s stock, valued at $3,064,747.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Armon Dadgar sold 35,904 shares of HashiCorp 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 sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,132,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the transaction, the chief financial officer now owns 91,485 shares of the company’s stock, valued at $3,064,747.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 354,355 shares of company stock valued at $11,957,418. 22.49% of the stock is currently owned by insiders.

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.