Glazer Capital LLC Purchases New Position in HashiCorp, Inc. (NASDAQ:HCP)

Glazer Capital LLC purchased a new stake in shares of HashiCorp, Inc. (NASDAQ:HCP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 262,731 shares of the company’s stock, valued at approximately $8,851,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after buying an additional 1,501,953 shares during the last quarter. Whale Rock Capital Management LLC increased its stake in HashiCorp by 293.2% during the first quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after acquiring an additional 3,404,557 shares during the last quarter. Jericho Capital Asset Management L.P. increased its stake in HashiCorp by 53.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after acquiring an additional 1,161,600 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. raised its position in HashiCorp by 50.0% during the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after purchasing an additional 949,100 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of HashiCorp by 35.7% in the 4th quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock valued at $64,350,000 after purchasing an additional 716,574 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

Insider Transactions at HashiCorp

In related news, CMO Marc Holmes sold 11,854 shares of HashiCorp stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $401,139.36. Following the completion of the sale, the chief marketing officer now directly owns 22,536 shares in the company, valued at $762,618.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00. Following the sale, the chief financial officer now owns 91,485 shares of the company’s stock, valued at approximately $3,064,747.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Marc Holmes sold 11,854 shares of HashiCorp stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $401,139.36. Following the completion of the transaction, the chief marketing officer now owns 22,536 shares in the company, valued at $762,618.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 354,355 shares of company stock valued at $11,957,418. 22.49% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HCP shares. Piper Sandler restated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. StockNews.com assumed coverage on shares of HashiCorp in a research note on Tuesday. They issued a “hold” rating on the stock. Citigroup assumed coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. Finally, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, HashiCorp currently has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Price Performance

Shares of HCP stock opened at $33.82 on Tuesday. The company’s 50-day simple moving average is $33.74 and its two-hundred day simple moving average is $31.79. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $34.06. The company has a market capitalization of $6.80 billion, a P/E ratio of -35.23 and a beta of 1.25.

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

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.