Hsbc Holdings PLC Invests $27 Million in HashiCorp, Inc. (NASDAQ:HCP)

Hsbc Holdings PLC acquired a new stake in shares of HashiCorp, Inc. (NASDAQ:HCP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 801,122 shares of the company’s stock, valued at approximately $26,998,000. Hsbc Holdings PLC owned 0.40% of HashiCorp as of its most recent filing with the Securities & Exchange Commission.

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

HashiCorp Stock Performance

HCP opened at $33.89 on Friday. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $34.06. The company has a 50-day moving average of $33.73 and a 200-day moving average of $31.70. The company has a market capitalization of $6.81 billion, a P/E ratio of -35.30 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. HashiCorp’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.34) earnings per share. As a group, sell-side analysts expect that HashiCorp, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Activity at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 17,397 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $33.47, for a total transaction of $582,277.59. Following the sale, the chief financial officer now directly owns 95,485 shares of the company’s stock, valued at $3,195,882.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Navam Welihinda sold 17,397 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $33.47, for a total transaction of $582,277.59. Following the completion of the transaction, the chief financial officer now directly owns 95,485 shares of the company’s stock, valued at $3,195,882.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Armon Dadgar sold 21,137 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $33.48, for a total value of $707,666.76. Following the completion of the sale, the chief technology officer now directly owns 23,234 shares in the company, valued at approximately $777,874.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 286,794 shares of company stock valued at $9,650,892. Corporate insiders own 22.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HCP shares. StockNews.com began coverage on shares of HashiCorp in a research note on Wednesday. They set a “hold” rating for the company. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.08.

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.