Canada Pension Plan Investment Board Sells 10,200 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Canada Pension Plan Investment Board lowered its holdings in HashiCorp, Inc. (NASDAQ:HCP) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,700 shares of the company’s stock after selling 10,200 shares during the period. Canada Pension Plan Investment Board owned about 0.17% of HashiCorp worth $11,512,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HCP. American Capital Advisory LLC bought a new stake in shares of HashiCorp during the 2nd quarter worth approximately $40,000. Advisors Asset Management Inc. increased its holdings in HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares during the last quarter. Covestor Ltd raised its position in HashiCorp by 12,888.9% during the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after acquiring an additional 3,480 shares in the last quarter. Quest Partners LLC lifted its stake in HashiCorp by 9,736.1% in the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after acquiring an additional 3,505 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of HashiCorp in the 2nd quarter valued at about $208,000. 87.83% of the stock is owned by institutional investors.

HashiCorp Stock Performance

HCP opened at $33.82 on Tuesday. The stock has a fifty day moving average of $33.74 and a 200-day moving average of $31.79. The company has a market capitalization of $6.80 billion, a P/E ratio of -35.23 and a beta of 1.25. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $34.06.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. 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 previous year, the company earned ($0.34) EPS. The business’s revenue was up 15.3% on a year-over-year basis. On average, equities research analysts predict that HashiCorp, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Activity

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00. Following the transaction, the chief financial officer now owns 91,485 shares in the company, valued at approximately $3,064,747.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the sale, the chief executive officer now owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00. Following the sale, the chief financial officer now owns 91,485 shares in the company, valued at approximately $3,064,747.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 354,355 shares of company stock worth $11,957,418. Corporate insiders own 22.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

About HashiCorp

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.