Slotnik Capital LLC Takes $34.45 Million Position in HashiCorp, Inc. (NASDAQ:HCP)

Slotnik Capital LLC acquired a new position in HashiCorp, Inc. (NASDAQ:HCP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,022,458 shares of the company’s stock, valued at approximately $34,447,000. HashiCorp accounts for about 16.9% of Slotnik Capital LLC’s portfolio, making the stock its 2nd biggest position. Slotnik Capital LLC owned about 0.51% of HashiCorp at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HCP. American Capital Advisory LLC bought a new stake in HashiCorp during the second quarter valued at $40,000. Advisors Asset Management Inc. grew its stake in HashiCorp by 43.0% during the first 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 increased its holdings in HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after purchasing an additional 3,480 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of HashiCorp by 9,736.1% during the 2nd 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 acquired a new stake in shares of HashiCorp during the 2nd quarter worth approximately $208,000. 87.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. StockNews.com initiated coverage on shares of HashiCorp in a report on Tuesday. They set a “hold” rating 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, Citigroup assumed coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.08.

HashiCorp Price Performance

HCP opened at $33.82 on Tuesday. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The company’s 50-day moving average is $33.74 and its 200 day moving average is $31.79. The firm has a market capitalization of $6.80 billion, a P/E ratio of -35.23 and a beta of 1.25.

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

Insider Activity at HashiCorp

In other HashiCorp news, CMO Marc Holmes sold 11,854 shares of HashiCorp stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $401,139.36. Following the sale, the chief marketing officer now owns 22,536 shares of the company’s stock, valued at $762,618.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction on 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Marc Holmes sold 11,854 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $401,139.36. Following the completion of the sale, the chief marketing officer now owns 22,536 shares in the company, valued at $762,618.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 354,355 shares of company stock worth $11,957,418. 22.49% of the stock is owned by company 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.