Marshall Wace LLP Sells 490,478 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Marshall Wace LLP cut its position in shares of HashiCorp, Inc. (NASDAQ:HCP) by 59.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 338,707 shares of the company’s stock after selling 490,478 shares during the period. Marshall Wace LLP owned approximately 0.17% of HashiCorp worth $11,411,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. American Capital Advisory LLC bought a new stake in shares of HashiCorp in the 2nd quarter worth about $40,000. Advisors Asset Management Inc. grew its position in HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after acquiring an additional 961 shares in the last quarter. Covestor Ltd increased its stake in HashiCorp by 12,888.9% during the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after acquiring an additional 3,480 shares during the last quarter. Quest Partners LLC raised its position in HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after purchasing an additional 3,505 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of HashiCorp in the 2nd quarter valued at approximately $208,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Insider Transactions at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $33.64, for a total transaction of $1,207,810.56. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,132,800. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $33.64, for a total transaction of $1,207,810.56. Following the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,132,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total transaction of $167,500.00. Following the completion of the transaction, the chief financial officer now owns 91,485 shares of the company’s stock, valued at approximately $3,064,747.50. The disclosure for this sale can be found here. Insiders sold 404,041 shares of company stock worth $13,636,943 in the last 90 days. Insiders own 22.49% of the company’s stock.

Analyst Ratings Changes

HCP has been the topic of several analyst reports. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Piper Sandler reiterated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup initiated coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price for the company. Finally, StockNews.com assumed coverage on shares of HashiCorp in a report on Tuesday, September 24th. They set a “hold” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.08.

HashiCorp Trading Up 0.1 %

Shares of HashiCorp stock opened at $33.90 on Friday. The stock’s fifty day moving average price is $33.77 and its 200-day moving average price is $31.92. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $34.06. The firm has a market cap of $6.82 billion, a P/E ratio of -35.31 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. HashiCorp’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company posted ($0.34) EPS. Analysts forecast that HashiCorp, Inc. will post -0.48 earnings per share for the current year.

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.