262,731 Shares in HashiCorp, Inc. (NASDAQ:HCP) Purchased by Glazer Capital LLC

Glazer Capital LLC acquired a new stake in shares of HashiCorp, Inc. (NASDAQ:HCP) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 262,731 shares of the company’s stock, valued at approximately $8,851,000. Glazer Capital LLC owned about 0.13% of HashiCorp as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of HCP. American Capital Advisory LLC bought a new stake in shares of HashiCorp in the 2nd quarter worth $40,000. Advisors Asset Management Inc. boosted its position 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 buying an additional 961 shares during the last quarter. Covestor Ltd increased its holdings in HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after buying an additional 3,480 shares in the last quarter. Quest Partners LLC raised its position in HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in HashiCorp during the 2nd quarter valued at about $208,000. 87.83% of the stock is currently owned by institutional investors.

HashiCorp Stock Down 0.2 %

NASDAQ HCP opened at $33.82 on Tuesday. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $34.06. The company has a market capitalization of $6.80 billion, a P/E ratio of -35.23 and a beta of 1.25. The stock’s 50-day moving average price is $33.74 and its 200-day moving average price is $31.79.

HashiCorp (NASDAQ:HCP) last released its earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter last year, the business earned ($0.34) EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. Research analysts anticipate that HashiCorp, Inc. will post -0.59 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. StockNews.com began coverage on shares of HashiCorp in a research report on Tuesday. They issued a “hold” rating for the company. Citigroup assumed coverage on HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Twelve investment 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 a consensus price target of $32.08.

Insider Activity

In related news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the transaction, the chief financial officer now owns 91,485 shares of the company’s stock, valued at approximately $3,064,747.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $33.64, for a total transaction of $1,207,810.56. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,132,800. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Navam Welihinda sold 5,000 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 91,485 shares in the company, valued at approximately $3,064,747.50. The disclosure for this sale can be found here. Insiders have sold 354,355 shares of company stock worth $11,957,418 in the last three months. Company insiders own 22.49% of the company’s stock.

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.