SG Americas Securities LLC Sells 105,995 Shares of HashiCorp, Inc. (NASDAQ:HCP)

SG Americas Securities LLC cut its position in HashiCorp, Inc. (NASDAQ:HCP) by 70.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,718 shares of the company’s stock after selling 105,995 shares during the quarter. SG Americas Securities LLC’s holdings in HashiCorp were worth $1,514,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of HashiCorp by 2,195.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 968,500 shares of the company’s stock worth $32,629,000 after buying an additional 926,300 shares in the last quarter. University of Texas Texas AM Investment Management Co. raised its stake in HashiCorp by 298.0% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 397,124 shares of the company’s stock worth $13,379,000 after purchasing an additional 297,341 shares in the last quarter. Water Island Capital LLC bought a new stake in HashiCorp in the 2nd quarter valued at about $37,762,000. Algert Global LLC grew its position in shares of HashiCorp by 13.6% during the 2nd quarter. Algert Global LLC now owns 75,676 shares of the company’s stock worth $2,550,000 after purchasing an additional 9,036 shares in the last quarter. Finally, Murchinson Ltd. bought a new position in shares of HashiCorp during the second quarter worth approximately $3,369,000. 87.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

HashiCorp Price Performance

Shares of NASDAQ HCP opened at $33.98 on Wednesday. The company has a 50 day simple moving average of $33.81 and a 200 day simple moving average of $32.27. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $34.06. The firm has a market cap of $6.83 billion, a PE ratio of -35.40 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm 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 company’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.34) EPS. As a group, research analysts anticipate that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred 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 owns 1,520,000 shares of the company’s stock, valued at approximately $50,920,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 sale, the chief financial officer now owns 91,485 shares in the company, valued at $3,064,747.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total value of $1,202,784.00. Following the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $50,920,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 390,125 shares of company stock valued at $13,178,494. 22.49% of the stock is currently 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.