Algert Global LLC Raises Stake in HashiCorp, Inc. (NASDAQ:HCP)

Algert Global LLC lifted its stake in HashiCorp, Inc. (NASDAQ:HCP) by 13.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,676 shares of the company’s stock after purchasing an additional 9,036 shares during the period. Algert Global LLC’s holdings in HashiCorp were worth $2,550,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in HCP. Dimensional Fund Advisors LP raised its position in HashiCorp by 9.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,049,009 shares of the company’s stock valued at $24,799,000 after purchasing an additional 92,586 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of HashiCorp by 569.4% during the fourth quarter. Hsbc Holdings PLC now owns 99,235 shares of the company’s stock valued at $2,373,000 after buying an additional 84,410 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of 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. First Trust Advisors LP lifted its stake in HashiCorp by 35.7% in the fourth quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock worth $64,350,000 after acquiring an additional 716,574 shares during the period. Finally, Capital Research Global Investors grew its holdings in HashiCorp by 45.6% during the 4th quarter. Capital Research Global Investors now owns 495,316 shares of the company’s stock worth $11,709,000 after acquiring an additional 155,031 shares in the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analysts Set New Price Targets

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

HashiCorp Stock Down 0.1 %

HCP opened at $33.84 on Wednesday. The firm’s 50-day moving average price is $33.77 and its 200-day moving average price is $32.05. The company has a market cap of $6.80 billion, a P/E ratio of -35.25 and a beta of 1.25. HashiCorp, Inc. has a 52-week low of $18.91 and a 52-week high of $34.06.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.34) earnings per share. On average, research analysts anticipate that HashiCorp, Inc. will post -0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $33.50, for a total value of $1,202,784.00. Following the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $50,920,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the completion of the transaction, the chief financial officer now owns 88,322 shares of the company’s stock, valued at $2,991,466.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Armon Dadgar sold 35,904 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 transaction of $1,202,784.00. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $50,920,000. 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 company insiders.

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.