HashiCorp, Inc. (NASDAQ:HCP) Shares Acquired by Entropy Technologies LP

Entropy Technologies LP increased its stake in HashiCorp, Inc. (NASDAQ:HCP) by 20.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,672 shares of the company’s stock after acquiring an additional 1,637 shares during the period. Entropy Technologies LP’s holdings in HashiCorp were worth $327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HCP. Vanguard Group Inc. grew its position in 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 purchasing an additional 1,501,953 shares during the last quarter. Whale Rock Capital Management LLC boosted its position in shares of 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 buying an additional 3,404,557 shares during the period. Jericho Capital Asset Management L.P. grew its holdings in HashiCorp by 53.3% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after buying an additional 1,161,600 shares in the last quarter. Pentwater Capital Management LP acquired a new stake in HashiCorp in the 2nd quarter valued at approximately $91,654,000. Finally, Magnetar Financial LLC bought a new stake in HashiCorp during the 2nd quarter valued at $71,490,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

Insider Transactions at HashiCorp

In other news, CMO Marc Holmes sold 11,854 shares of the company’s 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 transaction, the chief marketing officer now owns 22,536 shares in the company, valued at $762,618.24. This represents a 34.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total transaction of $169,350.00. Following the completion of the sale, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at $2,991,466.14. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 371,209 shares of company stock valued at $12,559,456 over the last ninety days. Corporate insiders own 22.49% of the company’s stock.

HashiCorp Stock Down 0.5 %

HCP opened at $33.74 on Friday. The firm has a market cap of $6.85 billion, a PE ratio of -44.99 and a beta of 1.24. The business has a fifty day simple moving average of $33.88 and a 200-day simple moving average of $33.64. HashiCorp, Inc. has a fifty-two week low of $19.26 and a fifty-two week high of $34.21.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $165.14 million during the quarter, compared to analyst estimates 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 for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.34) EPS. On average, equities research analysts anticipate that HashiCorp, Inc. will post -0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup assumed coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target for the company. Piper Sandler reissued a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. StockNews.com assumed coverage on shares of HashiCorp in a research note on Sunday. They issued a “hold” rating for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Twelve research 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 stock currently has a consensus rating of “Hold” and a consensus 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.