7,337 Shares in HashiCorp, Inc. (NASDAQ:HCP) Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System bought a new position in HashiCorp, Inc. (NASDAQ:HCP) during the 2nd quarter, HoldingsChannel reports. The fund bought 7,337 shares of the company’s stock, valued at approximately $247,000.

Several other hedge funds also recently made changes to their positions in HCP. American Capital Advisory LLC purchased a new position in shares of HashiCorp in the second quarter worth $40,000. Advisors Asset Management Inc. increased 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 worth $86,000 after buying an additional 961 shares during the period. Covestor Ltd increased its position in HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares during the period. CWM LLC increased its position in HashiCorp by 311.1% during the 2nd quarter. CWM LLC now owns 8,127 shares of the company’s stock valued at $274,000 after purchasing an additional 6,150 shares during the period. Finally, Aristides Capital LLC purchased a new position in HashiCorp during the 4th quarter valued at $286,000. 87.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $33.74, for a total value of $469,525.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total value of $1,214,632.32. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,421,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $33.74, for a total value of $469,525.84. The disclosure for this sale can be found here. Insiders have sold a total of 406,736 shares of company stock worth $13,639,660 in the last quarter. Corporate insiders own 22.49% of the company’s stock.

HashiCorp Price Performance

Shares of HashiCorp stock opened at $33.84 on Thursday. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of -35.25 and a beta of 1.25. The firm’s 50-day moving average is $33.67 and its 200 day moving average is $30.88. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $34.05.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results 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 net margin of 23.69% and a negative return on equity of 10.60%. HashiCorp’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) EPS. On average, equities analysts expect that HashiCorp, Inc. will post -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HCP. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Thursday, June 6th. Piper Sandler reissued a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup began coverage on shares of HashiCorp in a research report on Tuesday. They set a “neutral” rating and a $35.00 price objective on the stock. Finally, StockNews.com began coverage on shares of HashiCorp in a report on Saturday, August 31st. They set a “hold” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.