Bank of New York Mellon Corp Sells 10,367 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Bank of New York Mellon Corp lessened its stake in HashiCorp, Inc. (NASDAQ:HCP) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 746,488 shares of the company’s stock after selling 10,367 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.37% of HashiCorp worth $25,537,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Amalgamated Bank grew its holdings in HashiCorp by 43.7% during the third quarter. Amalgamated Bank now owns 9,085 shares of the company’s stock worth $308,000 after purchasing an additional 2,762 shares during the period. Principal Financial Group Inc. lifted its position in shares of HashiCorp by 41.9% in the third quarter. Principal Financial Group Inc. now owns 11,516 shares of the company’s stock valued at $390,000 after buying an additional 3,399 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake 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 acquiring an additional 3,118 shares during the period. Wolverine Asset Management LLC increased its holdings 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 worth $3,492,000 after acquiring an additional 22,176 shares during the last quarter. Finally, Versor Investments LP raised its stake in HashiCorp by 518.9% in 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 institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on HCP. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com upgraded shares of HashiCorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.40.

HashiCorp Stock Performance

HCP stock opened at $34.78 on Monday. HashiCorp, Inc. has a 52 week low of $23.00 and a 52 week high of $34.85. The company has a market capitalization of $7.11 billion, a PE ratio of -57.02 and a beta of 1.18. The company’s 50-day simple moving average is $34.38 and its 200 day simple moving average is $34.04.

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 17,800 shares of HashiCorp stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the completion of the transaction, the chief technology officer now owns 31,348 shares of the company’s stock, valued at $1,073,042.04. This trade represents a 36.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Mcjannet sold 47,526 shares of the business’s stock in a transaction on Friday, December 20th. The shares were 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 owns 465,978 shares in the company, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.49% of the company’s stock.

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.