Brighton Jones LLC Sells 20,189 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Brighton Jones LLC lessened its stake in HashiCorp, Inc. (NASDAQ:HCP) by 28.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,200 shares of the company’s stock after selling 20,189 shares during the quarter. Brighton Jones LLC’s holdings in HashiCorp were worth $1,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HCP. American Capital Advisory LLC bought a new position in HashiCorp in the 2nd quarter valued at approximately $40,000. Advisors Asset Management Inc. lifted its holdings in shares of HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after purchasing an additional 961 shares in the last quarter. Covestor Ltd boosted its position in shares of HashiCorp by 12,888.9% during the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after buying an additional 3,480 shares during the last quarter. Quest Partners LLC boosted its position in shares of HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in HashiCorp in the 2nd quarter worth about $208,000. Institutional investors own 87.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on HCP. StockNews.com initiated coverage on shares of HashiCorp in a research note on Wednesday. They set a “hold” rating on the stock. Citigroup initiated coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective on the stock. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, Piper Sandler reissued a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.08.

HashiCorp Price Performance

NASDAQ:HCP opened at $33.89 on Friday. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $34.06. The business has a fifty day moving average price of $33.73 and a 200-day moving average price of $31.64. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of -35.30 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter in the prior year, the business posted ($0.34) earnings per share. The business’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities research analysts expect that HashiCorp, Inc. will post -0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the transaction, the chief marketing officer now directly owns 4,368 shares in the company, valued at $147,638.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the transaction, the chief marketing officer now directly owns 4,368 shares in the company, valued at $147,638.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was 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. In the last 90 days, insiders have sold 286,794 shares of company stock worth $9,650,892. Company insiders own 22.49% of the company’s stock.

HashiCorp Company 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.