AQR Capital Management LLC Has $4.32 Million Stake in HashiCorp, Inc. (NASDAQ:HCP)

AQR Capital Management LLC reduced its position in HashiCorp, Inc. (NASDAQ:HCP) by 73.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,615 shares of the company’s stock after selling 359,322 shares during the quarter. AQR Capital Management LLC owned about 0.06% of HashiCorp worth $4,318,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Xponance Inc. lifted its position in shares of HashiCorp by 3.1% during the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after buying an additional 305 shares during the last quarter. Comerica Bank boosted its stake in shares of HashiCorp by 2.1% in the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after purchasing an additional 374 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of 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 valued at $1,020,000 after purchasing an additional 420 shares during the last quarter. Advisors Asset Management Inc. increased its position 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 purchasing an additional 961 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in HashiCorp by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock valued at $1,075,000 after purchasing an additional 1,065 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HCP has been the topic of a number of research reports. Citigroup initiated coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, StockNews.com began coverage on HashiCorp in a report on Sunday. They set a “hold” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Performance

Shares of NASDAQ HCP opened at $33.93 on Friday. The company’s 50 day moving average price is $33.80 and its 200-day moving average price is $32.19. HashiCorp, Inc. has a 52-week low of $18.91 and a 52-week high of $34.06. The company has a market capitalization of $6.82 billion, a P/E ratio of -35.34 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last released its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $157.22 million. During the same quarter in the previous year, the business earned ($0.34) earnings per share. HashiCorp’s revenue for the quarter was up 15.3% on a year-over-year basis. Analysts forecast that HashiCorp, Inc. will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total value of $1,214,991.36. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,436,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $33.46, for a total value of $465,629.36. Following the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at approximately $146,153.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total value of $1,214,991.36. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,436,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,041 shares of company stock valued at $13,644,123 over the last 90 days. Company insiders own 22.49% of the company’s stock.

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.