New York State Common Retirement Fund Has $5.80 Million Stake in HashiCorp, Inc. (NASDAQ:HCP)

New York State Common Retirement Fund trimmed its holdings in HashiCorp, Inc. (NASDAQ:HCPFree Report) by 1.7% in the third quarter, Holdings Channel reports. The fund owned 253,908 shares of the company’s stock after selling 4,452 shares during the period. New York State Common Retirement Fund’s holdings in HashiCorp were worth $5,797,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. grew its stake in HashiCorp by 167.6% in the fourth quarter. Citigroup Inc. now owns 918 shares of the company’s stock valued at $25,000 after acquiring an additional 575 shares during the period. Geneos Wealth Management Inc. acquired a new position in HashiCorp in the first quarter valued at about $33,000. American International Group Inc. acquired a new position in HashiCorp in the second quarter valued at about $38,000. Osaic Holdings Inc. grew its stake in HashiCorp by 188.1% in the second quarter. Osaic Holdings Inc. now owns 1,769 shares of the company’s stock valued at $46,000 after acquiring an additional 1,155 shares during the period. Finally, Ronald Blue Trust Inc. grew its stake in HashiCorp by 327.8% in the third quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock valued at $47,000 after acquiring an additional 1,570 shares during the period. 45.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HCP. StockNews.com cut HashiCorp from a “hold” rating to a “sell” rating in a research report on Friday, January 12th. Morgan Stanley reduced their price objective on HashiCorp from $30.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, December 8th. Citigroup upped their price objective on HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 22nd. BTIG Research reduced their price objective on HashiCorp from $33.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, December 8th. Finally, Truist Financial reduced their price objective on HashiCorp from $34.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.07.

Get Our Latest Analysis on HashiCorp

HashiCorp Stock Performance

Shares of NASDAQ HCP opened at $24.73 on Friday. The stock has a 50 day moving average price of $22.83 and a 200 day moving average price of $23.67. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $36.39. The stock has a market capitalization of $4.84 billion, a PE ratio of -22.90 and a beta of 1.30.

HashiCorp (NASDAQ:HCPGet Free Report) last released its quarterly earnings data on Thursday, December 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.07. The firm had revenue of $146.10 million for the quarter, compared to analyst estimates of $143.21 million. HashiCorp had a negative return on equity of 17.20% and a negative net margin of 37.01%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.38) earnings per share. As a group, research analysts forecast that HashiCorp, Inc. will post -1 EPS for the current year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $25.01, for a total value of $5,002,000.00. Following the sale, the chief executive officer now owns 176,165 shares in the company, valued at $4,405,886.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other HashiCorp news, CEO David Mcjannet sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $25.01, for a total value of $5,002,000.00. Following the sale, the chief executive officer now owns 176,165 shares in the company, valued at $4,405,886.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Navam Welihinda sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $21.16, for a total value of $52,900.00. Following the completion of the sale, the chief financial officer now owns 62,458 shares in the company, valued at approximately $1,321,611.28. The disclosure for this sale can be found here. Insiders have sold 767,118 shares of company stock worth $17,777,045 over the last 90 days. Company insiders own 26.13% of the company’s stock.

HashiCorp Profile

(Free Report)

HashiCorp, Inc provides multi-cloud infrastructure automation solutions worldwide. The company offers Terraform, an infrastructure provisioning product that applies an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; and Vault, a secrets management and data protection product, which enables security teams to apply policies based on application and user identity to govern access to credentials and secure sensitive data.

Further Reading

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Institutional Ownership by Quarter for HashiCorp (NASDAQ:HCP)

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