HashiCorp, Inc. (NASDAQ:HCP) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,117 shares of the company’s stock after selling 988 shares during the period. Principal Financial Group Inc.’s holdings in HashiCorp were worth $273,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of HashiCorp by 28.8% during the 4th quarter. Victory Capital Management Inc. now owns 13,622 shares of the company’s stock worth $322,000 after purchasing an additional 3,046 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of HashiCorp by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after acquiring an additional 63,879 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of HashiCorp by 9.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,049,009 shares of the company’s stock valued at $24,799,000 after acquiring an additional 92,586 shares in the last quarter. ING Groep NV bought a new position in HashiCorp in the 4th quarter worth approximately $1,336,000. Finally, Trexquant Investment LP bought a new position in HashiCorp in the 4th quarter worth approximately $3,158,000. 87.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at HashiCorp

In related news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at $2,991,466.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Sigal Zarmi sold 975 shares of HashiCorp stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $33.60, for a total transaction of $32,760.00. Following the completion of the sale, the director now owns 37,546 shares of the company’s stock, valued at $1,261,545.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 406,736 shares of company stock valued at $13,640,495. 22.49% of the stock is owned by corporate insiders.

HashiCorp Stock Performance

Shares of HCP stock opened at $33.84 on Friday. The company has a market capitalization of $6.87 billion, a P/E ratio of -35.25 and a beta of 1.25. The company’s 50 day moving average price is $33.69 and its two-hundred day moving average price is $31.41. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $34.05.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share 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 net margin of 23.69% and a negative return on equity of 10.54%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the business earned ($0.34) EPS. Analysts forecast that HashiCorp, Inc. will post -0.59 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on HCP. Citigroup initiated coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Thursday, June 6th. Finally, StockNews.com assumed coverage on HashiCorp in a research report on Thursday. They issued a “hold” rating for the company. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.