HighTower Advisors LLC Cuts Stake in HashiCorp, Inc. (NASDAQ:HCP)

HighTower Advisors LLC reduced its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP) by 43.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,236 shares of the company’s stock after selling 11,735 shares during the period. HighTower Advisors LLC’s holdings in HashiCorp were worth $517,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Longfellow Investment Management Co. LLC bought a new position in shares of HashiCorp during the 3rd quarter valued at $38,000. American Capital Advisory LLC bought a new stake in HashiCorp in the second quarter worth $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in HashiCorp during the third quarter valued at about $51,000. Quest Partners LLC grew its stake in shares of HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after buying an additional 731 shares during the period. 86.25% of the stock is owned by hedge funds and other institutional investors.

HashiCorp Trading Up 0.1 %

Shares of HCP opened at $34.27 on Friday. HashiCorp, Inc. has a 12 month low of $20.89 and a 12 month high of $34.33. The firm has a market cap of $7.01 billion, a PE ratio of -56.18 and a beta of 1.21. The stock has a fifty day moving average price of $33.82 and a 200-day moving average price of $33.76.

Insider Buying and Selling at HashiCorp

In other news, CMO Marc Holmes sold 13,782 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total transaction of $465,969.42. Following the completion of the transaction, the chief marketing officer now directly owns 8,754 shares in the company, valued at $295,972.74. This trade represents a 61.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $33.80, for a total value of $1,213,555.20. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,376,000. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 229,204 shares of company stock worth $7,747,233. Insiders own 22.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HCP. StockNews.com assumed coverage on HashiCorp in a research report on Tuesday. They set a “hold” rating on the stock. Piper Sandler restated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. Finally, Citigroup started coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Twelve 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 has a consensus rating of “Hold” and an average 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.