Fmr LLC Sells 33,928 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Fmr LLC decreased its position in shares of HashiCorp, Inc. (NASDAQ:HCP) by 63.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,390 shares of the company’s stock after selling 33,928 shares during the quarter. Fmr LLC’s holdings in HashiCorp were worth $657,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC bought a new position in shares of HashiCorp in the 3rd quarter valued at $38,000. American Capital Advisory LLC bought a new stake in HashiCorp during the 2nd quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HashiCorp during the 3rd quarter worth approximately $51,000. Quest Partners LLC boosted its holdings in 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 acquiring an additional 3,505 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of HashiCorp by 25.8% during the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after buying an additional 731 shares in the last quarter. 86.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the sale, the chief executive officer now directly owns 419,531 shares in the company, valued at approximately $14,196,929.04. The trade was a 10.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Armon Dadgar sold 35,903 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $33.90, for a total value of $1,217,111.70. Following the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,528,000. This represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 352,291 shares of company stock worth $11,912,497. Company insiders own 22.49% of the company’s stock.

HashiCorp Stock Up 0.2 %

NASDAQ:HCP opened at $33.90 on Wednesday. HashiCorp, Inc. has a twelve month low of $20.89 and a twelve month high of $34.21. The stock has a market cap of $6.93 billion, a P/E ratio of -55.57 and a beta of 1.21. The firm’s fifty day simple moving average is $33.81 and its 200 day simple moving average is $33.75.

Analysts Set New Price Targets

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

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.