Xponance Inc. Increases Stock Position in HashiCorp, Inc. (NASDAQ:HCP)

Xponance Inc. increased its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 3.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,271 shares of the company’s stock after buying an additional 305 shares during the period. Xponance Inc.’s holdings in HashiCorp were worth $346,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Comerica Bank raised its stake in shares of HashiCorp by 2.1% during the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after acquiring an additional 374 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in HashiCorp by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after acquiring an additional 420 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after acquiring an additional 961 shares in the last quarter. Arizona State Retirement System boosted its holdings in HashiCorp by 3.5% in the second quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock valued at $1,075,000 after acquiring an additional 1,065 shares in the last quarter. Finally, American Capital Advisory LLC bought a new stake in HashiCorp in the second quarter valued at $40,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Insiders Place Their Bets

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $33.46, for a total value of $465,629.36. Following the completion of the transaction, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at approximately $146,153.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Ledger Susan St. sold 22,232 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $752,330.88. Following the completion of the sale, the insider now owns 167,747 shares of the company’s stock, valued at approximately $5,676,558.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $33.46, for a total transaction of $465,629.36. Following the sale, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $146,153.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 368,137 shares of company stock valued at $12,429,132. 22.49% of the stock is owned by insiders.

Analyst Ratings Changes

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

HashiCorp Price Performance

Shares of HashiCorp stock opened at $33.84 on Wednesday. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of -35.25 and a beta of 1.25. The firm’s 50-day moving average is $33.77 and its 200 day moving average is $32.05. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $34.06.

HashiCorp (NASDAQ:HCP) last issued its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share 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 analyst estimates of $157.22 million. During the same quarter in the previous year, the firm earned ($0.34) EPS. HashiCorp’s revenue was up 15.3% on a year-over-year basis. On average, equities analysts expect that HashiCorp, Inc. will post -0.48 EPS for the current fiscal year.

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.