Rhumbline Advisers Grows Stock Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Rhumbline Advisers raised its position in shares of HashiCorp, Inc. (NASDAQ:HCP) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 161,608 shares of the company’s stock after acquiring an additional 4,379 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of HashiCorp worth $5,529,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank increased its position in HashiCorp by 43.7% during the 3rd quarter. Amalgamated Bank now owns 9,085 shares of the company’s stock valued at $308,000 after buying an additional 2,762 shares in the last quarter. Principal Financial Group Inc. lifted its position in HashiCorp by 41.9% during the third quarter. Principal Financial Group Inc. now owns 11,516 shares of the company’s stock valued at $390,000 after purchasing an additional 3,399 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in shares of HashiCorp by 5.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 58,686 shares of the company’s stock worth $1,987,000 after acquiring an additional 3,118 shares during the period. Wolverine Asset Management LLC boosted its holdings in shares of HashiCorp by 27.4% in the third quarter. Wolverine Asset Management LLC now owns 103,118 shares of the company’s stock worth $3,492,000 after buying an additional 22,176 shares during the last quarter. Finally, Versor Investments LP grew its position in shares of HashiCorp by 518.9% during the 3rd quarter. Versor Investments LP now owns 157,725 shares of the company’s stock valued at $5,341,000 after acquiring an additional 132,239 shares during the period. 86.25% of the stock is owned by hedge funds and other institutional investors.

HashiCorp Price Performance

HCP stock opened at $34.99 on Friday. HashiCorp, Inc. has a 1 year low of $23.00 and a 1 year high of $34.85. The firm has a market capitalization of $7.15 billion, a PE ratio of -57.36 and a beta of 1.18. The business has a 50 day simple moving average of $34.31 and a 200-day simple moving average of $34.00.

Insider Buying and Selling

In related news, CEO David Mcjannet sold 47,526 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the transaction, the chief executive officer now directly owns 465,978 shares in the company, valued at $15,945,767.16. This trade represents a 9.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Armon Dadgar sold 17,800 shares of HashiCorp stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total value of $609,294.00. Following the completion of the transaction, the chief technology officer now directly owns 31,348 shares of the company’s stock, valued at approximately $1,073,042.04. This represents a 36.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,229 shares of company stock valued at $3,441,256. 22.49% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HCP. StockNews.com upgraded shares of HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.27.

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.