HashiCorp, Inc. (NASDAQ:HCP) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System raised its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,921 shares of the company’s stock after buying an additional 1,065 shares during the period. Arizona State Retirement System’s holdings in HashiCorp were worth $1,075,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. American Capital Advisory LLC acquired a new position in shares of HashiCorp during the second quarter valued at approximately $40,000. Advisors Asset Management Inc. raised its stake in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares in the last quarter. Covestor Ltd lifted its holdings in shares of HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after buying an additional 3,480 shares during the period. Maryland State Retirement & Pension System acquired a new stake in shares of HashiCorp in the second quarter valued at $247,000. Finally, CWM LLC boosted its stake in HashiCorp by 311.1% during the second quarter. CWM LLC now owns 8,127 shares of the company’s stock valued at $274,000 after buying an additional 6,150 shares in the last quarter. 87.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other HashiCorp news, Director Sigal Zarmi sold 975 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.60, for a total value of $32,760.00. Following the transaction, the director now directly owns 37,546 shares of the company’s stock, valued at approximately $1,261,545.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other HashiCorp news, CTO Armon Dadgar sold 18,349 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total transaction of $610,287.74. Following the transaction, the chief technology officer now directly owns 44,371 shares of the company’s stock, valued at $1,475,779.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sigal Zarmi sold 975 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.60, for a total value of $32,760.00. Following the completion of the sale, the director now directly owns 37,546 shares of the company’s stock, valued at approximately $1,261,545.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 406,736 shares of company stock worth $13,640,495. Corporate insiders own 22.49% of the company’s stock.

HashiCorp Price Performance

NASDAQ:HCP opened at $33.84 on Friday. The stock’s 50-day moving average is $33.69 and its two-hundred day moving average is $31.37. The stock has a market cap of $6.87 billion, a PE ratio of -35.25 and a beta of 1.25. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $34.05.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Piper Sandler reissued a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Thursday, June 6th. StockNews.com initiated coverage on shares of HashiCorp in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, HashiCorp has an average rating of “Hold” and an average price target of $32.08.

HashiCorp Company 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.