Zurcher Kantonalbank Zurich Cantonalbank Acquires 14,582 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP) by 21.0% during the 4th quarter, Holdings Channel reports. The firm owned 84,178 shares of the company’s stock after purchasing an additional 14,582 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in HashiCorp were worth $1,990,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of HashiCorp during the third quarter worth approximately $309,000. Qsemble Capital Management LP bought a new position in shares of HashiCorp during the third quarter worth approximately $1,119,000. Artemis Investment Management LLP bought a new position in shares of HashiCorp during the fourth quarter worth approximately $7,124,000. Vanguard Group Inc. increased its holdings in shares of HashiCorp by 4.9% during the third quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock worth $221,976,000 after purchasing an additional 455,179 shares during the period. Finally, Versor Investments LP bought a new position in shares of HashiCorp during the third quarter worth approximately $491,000. 87.83% of the stock is owned by institutional investors.

Insider Activity at HashiCorp

In other HashiCorp news, insider Ledger Susan St. sold 17,895 shares of HashiCorp stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total value of $490,144.05. Following the completion of the sale, the insider now directly owns 121,702 shares of the company’s stock, valued at $3,333,417.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $23.02, for a total value of $826,510.08. Following the completion of the sale, the chief technology officer now directly owns 1,804,780 shares of the company’s stock, valued at $41,546,035.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ledger Susan St. sold 17,895 shares of HashiCorp stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total transaction of $490,144.05. Following the completion of the sale, the insider now directly owns 121,702 shares of the company’s stock, valued at $3,333,417.78. The disclosure for this sale can be found here. Insiders have sold a total of 224,173 shares of company stock worth $5,641,396 over the last quarter. Company insiders own 26.13% of the company’s stock.

HashiCorp Stock Up 18.7 %

HCP stock opened at $29.15 on Wednesday. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of -29.74 and a beta of 1.42. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $36.39. The company’s fifty day simple moving average is $25.59 and its 200 day simple moving average is $23.25.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on HCP. Bank of America lifted their price objective on shares of HashiCorp from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. TD Cowen lifted 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. Piper Sandler reissued a “neutral” rating and issued a $25.00 price objective (up from $22.00) on shares of HashiCorp in a research note on Wednesday, March 6th. StockNews.com raised shares of HashiCorp from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Scotiabank raised shares of HashiCorp from a “sector perform” rating to a “sector outperform” rating and set a $31.00 target price on the stock in a research note on Tuesday, March 12th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, HashiCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.77.

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.