Wellington Management Group LLP Sells 1,894,170 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Wellington Management Group LLP decreased its holdings in HashiCorp, Inc. (NASDAQ:HCP) by 95.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 89,131 shares of the company’s stock after selling 1,894,170 shares during the quarter. Wellington Management Group LLP’s holdings in HashiCorp were worth $2,107,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HCP. Rhumbline Advisers boosted its holdings in shares of HashiCorp by 2.2% in the 3rd quarter. Rhumbline Advisers now owns 118,818 shares of the company’s stock valued at $2,713,000 after buying an additional 2,552 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in HashiCorp in the third quarter valued at approximately $338,000. Stifel Financial Corp purchased a new position in HashiCorp in the third quarter worth $1,696,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of HashiCorp during the third quarter worth $309,000. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of HashiCorp by 5.3% during the 3rd quarter. Treasurer of the State of North Carolina now owns 42,710 shares of the company’s stock valued at $975,000 after purchasing an additional 2,140 shares during the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Insider Activity at HashiCorp

In related news, Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total value of $130,500.00. Following the completion of the transaction, the director now owns 37,991 shares of the company’s stock, valued at approximately $1,139,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $24.31, for a total value of $872,826.24. Following the sale, the chief technology officer now owns 1,625,260 shares in the company, valued at $39,510,070.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total transaction of $130,500.00. Following the transaction, the director now owns 37,991 shares of the company’s stock, valued at approximately $1,139,730. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 359,266 shares of company stock worth $11,517,392. 22.49% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HCP shares. KeyCorp initiated coverage on HashiCorp in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock. Scotiabank restated a “sector perform” rating and set a $35.00 price objective (up previously from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. Piper Sandler lifted their target price on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. TD Cowen upped their price target 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. Finally, Truist Financial reissued a “hold” rating and set a $35.00 price objective (up from $27.00) on shares of HashiCorp in a report on Thursday, April 25th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.17.

HashiCorp Stock Down 0.1 %

Shares of HCP stock opened at $33.66 on Tuesday. The stock has a market cap of $6.77 billion, a PE ratio of -35.06 and a beta of 1.25. HashiCorp, Inc. has a 52-week low of $18.91 and a 52-week high of $34.05. The business has a 50-day simple moving average of $33.16 and a 200-day simple moving average of $27.40.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.02. The business had revenue of $160.58 million for the quarter, compared to analyst estimates of $153.39 million. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. Sell-side analysts anticipate that HashiCorp, Inc. will post -0.8 earnings per share 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.