Amalgamated Bank Boosts Stock Position in HashiCorp, Inc. (NASDAQ:HCP)

Amalgamated Bank raised its position in shares of HashiCorp, Inc. (NASDAQ:HCP) by 43.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,085 shares of the company’s stock after buying an additional 2,762 shares during the quarter. Amalgamated Bank’s holdings in HashiCorp were worth $308,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. American Capital Advisory LLC acquired a new stake in shares of HashiCorp in the 2nd quarter worth $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in HashiCorp in the third quarter valued at about $51,000. 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 worth $86,000 after acquiring an additional 961 shares in the last quarter. Covestor Ltd grew its stake in shares of 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 during the last quarter. Finally, Quest Partners LLC grew its stake in shares of HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after acquiring an additional 3,505 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the transaction, the chief financial officer now owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. The trade was a 5.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ledger Susan St. sold 22,232 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $752,330.88. Following the sale, the insider now owns 167,747 shares of the company’s stock, valued at approximately $5,676,558.48. The trade was a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 371,209 shares of company stock valued at $12,559,456 in the last ninety days. 22.49% of the stock is currently owned by corporate insiders.

HashiCorp Stock Down 0.5 %

HCP stock opened at $33.74 on Monday. HashiCorp, Inc. has a 52 week low of $19.26 and a 52 week high of $34.21. The firm has a 50-day simple moving average of $33.88 and a 200-day simple moving average of $33.64. The stock has a market capitalization of $6.85 billion, a P/E ratio of -44.99 and a beta of 1.24.

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

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.