Principal Financial Group Inc. Has $390,000 Stock Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Principal Financial Group Inc. raised its position in HashiCorp, Inc. (NASDAQ:HCP) by 41.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 11,516 shares of the company’s stock after buying an additional 3,399 shares during the period. Principal Financial Group Inc.’s holdings in HashiCorp were worth $390,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in HashiCorp by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after purchasing an additional 1,501,953 shares during the period. Advisors Asset Management Inc. grew its holdings in HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after acquiring an additional 961 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in shares of HashiCorp during the 1st quarter valued at $378,000. Bayesian Capital Management LP bought a new stake in shares of HashiCorp during the 1st quarter valued at $2,178,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of HashiCorp in the 1st quarter valued at $1,070,000. 87.83% of the stock is owned by institutional investors and hedge funds.

HashiCorp Stock Up 0.2 %

Shares of NASDAQ HCP opened at $33.92 on Monday. The company has a market capitalization of $6.88 billion, a PE ratio of -45.23 and a beta of 1.24. HashiCorp, Inc. has a twelve month low of $19.26 and a twelve month high of $34.21. The firm has a fifty day simple moving average of $33.87 and a 200 day simple moving average of $33.68.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data 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 firm had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. During the same period last year, the company posted ($0.34) EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities analysts expect that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at HashiCorp

In other news, CFO Navam Welihinda sold 18,167 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $614,771.28. Following the completion of the sale, the chief financial officer now owns 105,883 shares in the company, valued at $3,583,080.72. The trade was a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the transaction, the chief executive officer now directly owns 419,531 shares in the company, valued at $14,196,929.04. The trade was a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 330,305 shares of company stock valued at $11,174,756. Corporate insiders own 22.49% of the company’s stock.

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.