HashiCorp, Inc. (NASDAQ:HCP) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 6.6% in the 4th quarter, HoldingsChannel reports. The firm owned 28,111 shares of the company’s stock after buying an additional 1,750 shares during the quarter. Arizona State Retirement System’s holdings in HashiCorp were worth $665,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new position in HashiCorp in the 1st quarter valued at about $33,000. Citigroup Inc. raised its position in shares of HashiCorp by 167.6% in the fourth quarter. Citigroup Inc. now owns 918 shares of the company’s stock valued at $25,000 after buying an additional 575 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in shares of HashiCorp during the first quarter valued at approximately $50,000. Tower Research Capital LLC TRC boosted its position in HashiCorp by 82.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company’s stock worth $39,000 after acquiring an additional 766 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new stake in HashiCorp in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

HashiCorp Price Performance

Shares of HCP opened at $23.63 on Friday. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $36.39. The stock has a market cap of $4.72 billion, a PE ratio of -24.11 and a beta of 1.42. The stock’s 50-day moving average is $25.49 and its two-hundred day moving average is $23.17.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.06. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. The firm had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. On average, research analysts anticipate that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In other HashiCorp news, CEO David Mcjannet sold 33,331 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.38, for a total value of $912,602.78. Following the sale, the chief executive officer now directly owns 326,912 shares in the company, valued at $8,950,850.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Ledger Susan St. sold 17,895 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $27.39, for a total transaction of $490,144.05. Following the completion of the transaction, the insider now directly owns 121,702 shares in the company, valued at $3,333,417.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Mcjannet sold 33,331 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $27.38, for a total value of $912,602.78. Following the completion of the transaction, the chief executive officer now directly owns 326,912 shares of the company’s stock, valued at $8,950,850.56. The disclosure for this sale can be found here. Insiders sold a total of 262,577 shares of company stock worth $6,484,004 in the last three months. 26.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

HCP has been the topic of several analyst reports. KeyCorp assumed coverage on HashiCorp in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Piper Sandler restated a “neutral” rating and issued a $25.00 target price (up from $22.00) on shares of HashiCorp in a report on Wednesday, March 6th. Oppenheimer reaffirmed an “outperform” rating and set a $34.00 price target on shares of HashiCorp in a research note on Wednesday, March 6th. TD Cowen boosted their price objective on shares of HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Finally, StockNews.com upgraded HashiCorp from a “sell” rating to a “hold” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.77.

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.