Principal Financial Group Inc. Purchases 3,399 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Principal Financial Group Inc. raised its stake in HashiCorp, Inc. (NASDAQ:HCP) by 41.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. 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 SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp lifted its holdings in HashiCorp by 14.5% in the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock valued at $75,841,000 after buying an additional 282,965 shares during the period. New York Life Investment Management LLC acquired a new position in shares of HashiCorp in the 2nd quarter valued at about $11,407,000. Geode Capital Management LLC increased its stake in shares of HashiCorp by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after acquiring an additional 385,118 shares in the last quarter. K2 Principal Fund L.P. acquired a new position in shares of HashiCorp during the second quarter valued at about $2,966,000. Finally, Alpine Associates Management Inc. boosted its position in shares of HashiCorp by 48.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after purchasing an additional 701,350 shares in the last quarter. Institutional investors and hedge funds own 86.25% of the company’s stock.

Insider Transactions at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 47,526 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the transaction, the chief executive officer now directly owns 465,978 shares in the company, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $33.86, for a total value of $1,215,709.44. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,467,200. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,940 shares of company stock valued at $7,088,351 in the last ninety days. 22.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HCP. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com began coverage on HashiCorp in a research report on Sunday, December 29th. They issued 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Price Performance

Shares of NASDAQ:HCP opened at $34.38 on Monday. The company has a market cap of $7.03 billion, a PE ratio of -56.36 and a beta of 1.18. HashiCorp, Inc. has a 1 year low of $20.89 and a 1 year high of $34.39. The stock’s 50-day moving average is $33.92 and its 200 day moving average is $33.79.

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.