Rhumbline Advisers Grows Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Rhumbline Advisers grew its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP) by 8.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 116,947 shares of the company’s stock after acquiring an additional 9,296 shares during the period. Rhumbline Advisers’ holdings in HashiCorp were worth $3,940,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of HashiCorp by 11.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after acquiring an additional 63,879 shares in the last quarter. Swiss National Bank increased its position in HashiCorp by 11.8% during the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after acquiring an additional 23,400 shares during the last quarter. Contour Asset Management LLC bought a new position in HashiCorp in the fourth quarter worth approximately $21,217,000. GGV Capital LLC raised its stake in shares of HashiCorp by 4.6% in the fourth quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock worth $15,579,000 after buying an additional 29,064 shares during the period. Finally, Trexquant Investment LP bought a new stake in HashiCorp during the 4th quarter worth approximately $3,158,000. 87.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other HashiCorp news, insider Ledger Susan St. sold 22,366 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $33.26, for a total transaction of $743,893.16. Following the transaction, the insider now directly owns 143,072 shares in the company, valued at approximately $4,758,574.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CMO Marc Holmes sold 11,926 shares of HashiCorp stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total value of $396,658.76. Following the completion of the sale, the chief marketing officer now directly owns 18,096 shares in the company, valued at approximately $601,872.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ledger Susan St. sold 22,366 shares of HashiCorp stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $33.26, for a total transaction of $743,893.16. Following the sale, the insider now owns 143,072 shares of the company’s stock, valued at $4,758,574.72. The disclosure for this sale can be found here. Insiders have sold 406,736 shares of company stock worth $13,640,495 in the last ninety days. 22.49% of the stock is owned by company insiders.

HashiCorp Stock Performance

HCP opened at $33.99 on Tuesday. The stock’s 50 day moving average price is $33.70 and its 200-day moving average price is $31.50. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $34.05. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of -35.41 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last released 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 during 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 10.54%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.34) EPS. As a group, analysts predict that HashiCorp, Inc. will post -0.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on HCP. StockNews.com began coverage on HashiCorp in a report on Thursday, September 12th. They set a “hold” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday. Citigroup initiated coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. Finally, Piper Sandler restated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.