SVB Wealth LLC Takes $273,000 Position in HashiCorp, Inc. (NASDAQ:HCP)

SVB Wealth LLC acquired a new stake in shares of HashiCorp, Inc. (NASDAQ:HCP) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 11,560 shares of the company’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ronald Blue Trust Inc. increased its holdings in HashiCorp by 327.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock valued at $47,000 after acquiring an additional 1,570 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after acquiring an additional 615 shares during the last quarter. Victory Capital Management Inc. increased its holdings in HashiCorp by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after acquiring an additional 2,768 shares during the last quarter. Xponance Inc. grew its stake in shares of HashiCorp by 6.7% in the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after buying an additional 673 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of HashiCorp by 10.0% in the 3rd quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock worth $246,000 after buying an additional 978 shares in the last quarter. 87.83% of the stock is currently owned by institutional investors.

HashiCorp Stock Performance

Shares of HashiCorp stock opened at $24.55 on Tuesday. The company has a market capitalization of $4.90 billion, a PE ratio of -25.05 and a beta of 1.42. The company has a 50-day simple moving average of $25.47 and a two-hundred day simple moving average of $23.20. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $36.39.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley raised shares of HashiCorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $23.00 to $30.00 in a research note on Monday, February 26th. JMP Securities reissued a “market outperform” rating and set a $38.00 price target on shares of HashiCorp in a research report on Thursday, March 7th. Citigroup lifted their price objective on HashiCorp from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, January 22nd. StockNews.com upgraded shares of HashiCorp from a “sell” rating to a “hold” rating in a report on Monday. Finally, BTIG Research raised their target price on shares of HashiCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, HashiCorp has an average rating of “Moderate Buy” and an average price target of $28.77.

Insider Transactions at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $23.02, for a total transaction of $826,510.08. Following the sale, the chief technology officer now owns 1,804,780 shares in the company, valued at $41,546,035.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $23.02, for a total transaction of $826,510.08. Following the sale, the chief technology officer now owns 1,804,780 shares in the company, valued at approximately $41,546,035.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Mcjannet sold 33,331 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $27.38, for a total value of $912,602.78. Following the sale, the chief executive officer now owns 326,912 shares in the company, valued at approximately $8,950,850.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 224,173 shares of company stock worth $5,641,396. Insiders own 26.13% 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.