Quest Partners LLC Purchases 2,296 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Quest Partners LLC grew its position in HashiCorp, Inc. (NASDAQ:HCP) by 64.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,837 shares of the company’s stock after acquiring an additional 2,296 shares during the quarter. Quest Partners LLC’s holdings in HashiCorp were worth $198,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Swiss National Bank raised its stake in shares of HashiCorp by 26.0% in the third quarter. Swiss National Bank now owns 282,700 shares of the company’s stock valued at $9,572,000 after purchasing an additional 58,300 shares in the last quarter. ING Groep NV increased its holdings in HashiCorp by 851.2% in the 3rd quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock valued at $56,587,000 after buying an additional 1,495,500 shares during the period. KBC Group NV raised its stake in shares of HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after buying an additional 731 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of HashiCorp by 4.8% during the 3rd quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock worth $646,000 after acquiring an additional 873 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its position in shares of HashiCorp by 15.9% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 8,461 shares of the company’s stock valued at $286,000 after acquiring an additional 1,160 shares in the last quarter. Institutional investors and hedge funds own 87.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HCP. StockNews.com initiated coverage on shares of HashiCorp in a research report on Saturday, November 23rd. They issued a “hold” rating for the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Piper Sandler restated a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup began coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, HashiCorp currently has an average rating of “Hold” and an average price target of $32.08.

Insider Activity

In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $33.83, for a total transaction of $1,214,632.32. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,421,600. The trade was a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Navam Welihinda sold 18,167 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $614,771.28. Following the completion of the transaction, the chief financial officer now owns 105,883 shares in the company, valued at $3,583,080.72. This represents a 14.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 366,208 shares of company stock valued at $12,391,868 over the last three months. 22.49% of the stock is owned by insiders.

HashiCorp Stock Performance

Shares of NASDAQ:HCP opened at $33.58 on Thursday. The business has a fifty day moving average of $33.86 and a 200-day moving average of $33.70. HashiCorp, Inc. has a twelve month low of $19.26 and a twelve month high of $34.21. The firm has a market cap of $6.81 billion, a PE ratio of -44.77 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter last year, the company posted ($0.34) EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, analysts anticipate that HashiCorp, Inc. will post -0.48 EPS 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.