Xponance Inc. Decreases Position in HashiCorp, Inc. (NASDAQ:HCP)

Xponance Inc. trimmed its holdings in HashiCorp, Inc. (NASDAQ:HCP) by 12.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,331 shares of the company’s stock after selling 1,370 shares during the quarter. Xponance Inc.’s holdings in HashiCorp were worth $221,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its stake in HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after purchasing an additional 615 shares in the last quarter. Victory Capital Management Inc. lifted its stake in HashiCorp by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after purchasing an additional 2,768 shares in the last quarter. Principal Financial Group Inc. lifted its stake in 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 purchasing an additional 978 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in HashiCorp in the 3rd quarter worth approximately $269,000. Finally, SVB Wealth LLC purchased a new position in HashiCorp in the 4th quarter worth approximately $273,000. 87.83% of the stock is owned by hedge funds and other institutional investors.

HashiCorp Trading Down 0.7 %

HashiCorp stock opened at $32.59 on Friday. HashiCorp, Inc. has a twelve month low of $18.91 and a twelve month high of $36.39. The stock’s fifty day simple moving average is $26.08 and its 200-day simple moving average is $23.45. The firm has a market capitalization of $6.50 billion, a P/E ratio of -33.25 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. Sell-side analysts predict that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on HCP shares. Oppenheimer reissued an “outperform” rating and issued a $34.00 target price on shares of HashiCorp in a research note on Wednesday, March 6th. Piper Sandler raised their price target on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley upgraded shares of HashiCorp from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $30.00 in a report on Monday, February 26th. Scotiabank restated a “sector perform” rating and set a $35.00 price target (up previously from $31.00) on shares of HashiCorp in a report on Thursday. Finally, Stifel Nicolaus raised their price target on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, HashiCorp currently has an average rating of “Hold” and an average price target of $30.77.

Insider Transactions at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $41,546,035.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $23.02, for a total transaction of $826,510.08. Following the completion of the transaction, 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 SEC, which is accessible through the SEC website. Also, CEO David Mcjannet sold 33,331 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.38, for a total transaction of $912,602.78. Following the transaction, the chief executive officer now owns 326,912 shares of the company’s stock, valued at approximately $8,950,850.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 267,427 shares of company stock valued at $6,728,242. 26.13% of the stock is currently owned by company insiders.

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.