HashiCorp, Inc. (NASDAQ:HCP) Position Trimmed by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in HashiCorp, Inc. (NASDAQ:HCP) by 26.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 273,472 shares of the company’s stock after selling 96,158 shares during the quarter. Bank of Montreal Can’s holdings in HashiCorp were worth $9,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in HCP. New York Life Investment Management LLC acquired a new position in HashiCorp in the 2nd quarter worth about $11,407,000. K2 Principal Fund L.P. bought a new stake in shares of HashiCorp in the 2nd quarter valued at approximately $2,966,000. Alpine Associates Management Inc. increased its holdings in HashiCorp by 48.7% in the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after buying an additional 701,350 shares during the last quarter. Versor Investments LP raised its position in HashiCorp by 518.9% during the third quarter. Versor Investments LP now owns 157,725 shares of the company’s stock valued at $5,341,000 after acquiring an additional 132,239 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in HashiCorp in the second quarter valued at approximately $857,000. 87.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on HCP. StockNews.com initiated coverage on shares of HashiCorp in a report on Friday. They set a “hold” rating on the stock. Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target for the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. 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 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, HashiCorp presently has an average rating of “Hold” and a consensus price target of $32.08.

HashiCorp Trading Up 0.1 %

HCP opened at $33.62 on Monday. HashiCorp, Inc. has a 1-year low of $19.26 and a 1-year high of $34.21. The business has a 50 day moving average of $33.85 and a 200-day moving average of $33.71. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -44.83 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last posted 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 analyst estimates of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the business posted ($0.34) EPS. Equities analysts predict that HashiCorp, Inc. will post -0.48 EPS for the current year.

Insider Activity at HashiCorp

In other news, CMO Marc Holmes sold 11,854 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $401,139.36. Following the completion of the transaction, the chief marketing officer now directly owns 22,536 shares of the company’s stock, valued at approximately $762,618.24. This trade represents a 34.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $33.90, for a total transaction of $1,217,111.70. Following the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,528,000. This trade represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 366,208 shares of company stock worth $12,391,868. Company insiders own 22.49% of the company’s stock.

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.