P Schoenfeld Asset Management LP Takes Position in HashiCorp, Inc. (NASDAQ:HCP)

P Schoenfeld Asset Management LP acquired a new stake in HashiCorp, Inc. (NASDAQ:HCP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 586,600 shares of the company’s stock, valued at approximately $19,763,000. HashiCorp accounts for 4.8% of P Schoenfeld Asset Management LP’s investment portfolio, making the stock its 5th largest position. P Schoenfeld Asset Management LP owned about 0.29% of HashiCorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Comerica Bank grew its holdings in HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after purchasing an additional 374 shares during the period. Treasurer of the State of North Carolina raised its holdings in HashiCorp by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock worth $1,020,000 after buying an additional 420 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of HashiCorp by 3.5% during the second quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock valued at $1,075,000 after buying an additional 1,065 shares during the last quarter. Finally, American Capital Advisory LLC bought a new stake in shares of HashiCorp during the second quarter worth about $40,000. 87.83% of the stock is owned by institutional investors and hedge funds.

HashiCorp Price Performance

HCP opened at $33.89 on Monday. The stock’s 50 day simple moving average is $33.73 and its 200 day simple moving average is $31.73. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -35.30 and a beta of 1.25. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $34.06.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.34) EPS. As a group, sell-side analysts anticipate that HashiCorp, Inc. will post -0.59 EPS for the current year.

Insider Buying and Selling at HashiCorp

In other news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the sale, the chief marketing officer now directly owns 4,368 shares in the company, valued at approximately $147,638.40. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the transaction, the chief marketing officer now directly owns 4,368 shares in the company, valued at approximately $147,638.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the sale, the chief financial officer now owns 88,322 shares of the company’s stock, valued at $2,991,466.14. The disclosure for this sale can be found here. Insiders sold 234,532 shares of company stock valued at $7,901,335 in the last 90 days. Insiders own 22.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on HCP shares. StockNews.com began coverage on HashiCorp in a report on Wednesday, September 18th. They set a “hold” rating for the company. Piper Sandler restated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Citigroup began coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, HashiCorp presently has an average rating of “Hold” and an average target price of $32.08.

HashiCorp 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.