HashiCorp, Inc. (NASDAQ:HCP) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,090 shares of the company’s stock after acquiring an additional 873 shares during the period. Victory Capital Management Inc.’s holdings in HashiCorp were worth $646,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC grew its stake in HashiCorp by 15.9% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 8,461 shares of the company’s stock worth $286,000 after acquiring an additional 1,160 shares during the period. Entropy Technologies LP increased its stake in HashiCorp by 20.4% in the third quarter. Entropy Technologies LP now owns 9,672 shares of the company’s stock valued at $327,000 after purchasing an additional 1,637 shares during the last quarter. Versor Investments LP lifted its position in HashiCorp by 518.9% during the third quarter. Versor Investments LP now owns 157,725 shares of the company’s stock worth $5,341,000 after buying an additional 132,239 shares during the period. Wolverine Asset Management LLC grew its stake in shares of HashiCorp by 27.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 103,118 shares of the company’s stock valued at $3,492,000 after buying an additional 22,176 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of HashiCorp by 5.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,686 shares of the company’s stock worth $1,987,000 after buying an additional 3,118 shares during the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Piper Sandler reissued a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Citigroup initiated coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, StockNews.com started coverage on shares of HashiCorp in a report on Friday. They set a “hold” rating on the stock. 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, HashiCorp has an average rating of “Hold” and an average target price of $32.08.

Insider Activity at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 18,167 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $614,771.28. Following the sale, the chief financial officer now owns 105,883 shares in the company, valued at $3,583,080.72. This represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total value of $1,214,632.32. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,421,600. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 366,208 shares of company stock valued at $12,391,868 over the last ninety days. Corporate insiders own 22.49% of the company’s stock.

HashiCorp Stock Performance

NASDAQ:HCP opened at $33.58 on Friday. HashiCorp, Inc. has a one year low of $19.26 and a one year high of $34.21. The business’s 50-day simple moving average is $33.85 and its 200 day simple moving average is $33.70. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of -44.77 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last released its earnings results on Thursday, August 29th. The company reported $0.08 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 return on equity of 10.54% and a negative net margin of 23.69%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.34) EPS. On average, equities research analysts predict that HashiCorp, Inc. will post -0.48 EPS for the current year.

HashiCorp 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.