State of New Jersey Common Pension Fund D Increases Position in HashiCorp, Inc. (NASDAQ:HCP)

State of New Jersey Common Pension Fund D raised its position in HashiCorp, Inc. (NASDAQ:HCP) by 37.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,544 shares of the company’s stock after purchasing an additional 31,807 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of HashiCorp worth $2,779,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of HCP. Sycomore Asset Management grew its position in shares of HashiCorp by 104.7% in the 4th quarter. Sycomore Asset Management now owns 202,639 shares of the company’s stock valued at $4,965,000 after buying an additional 103,639 shares during the last quarter. Handelsbanken Fonder AB purchased a new position in shares of HashiCorp in the 4th quarter valued at $426,000. Calamos Advisors LLC grew its position in shares of HashiCorp by 15.3% in the 4th quarter. Calamos Advisors LLC now owns 26,000 shares of the company’s stock valued at $615,000 after buying an additional 3,456 shares during the last quarter. Federated Hermes Inc. grew its position in shares of HashiCorp by 16.2% in the 4th quarter. Federated Hermes Inc. now owns 2,112,284 shares of the company’s stock valued at $49,934,000 after buying an additional 294,484 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of HashiCorp in the 4th quarter valued at $2,577,000. 87.83% of the stock is owned by hedge funds and other institutional investors.

HashiCorp Stock Performance

HCP stock opened at $32.59 on Tuesday. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $36.39. The company has a fifty day moving average of $26.25 and a 200-day moving average of $23.54.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. The business had revenue of $155.78 million during the quarter, compared to the consensus estimate of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. As a group, equities analysts anticipate that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $23.02, for a total value of $826,510.08. Following the completion of the transaction, the chief technology officer now owns 1,804,780 shares in the company, valued at approximately $41,546,035.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $23.02, for a total transaction of $826,510.08. Following the completion of the transaction, the chief technology officer now directly owns 1,804,780 shares in the company, valued at approximately $41,546,035.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sigal Zarmi sold 4,350 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total transaction of $130,500.00. Following the transaction, the director now owns 37,991 shares of the company’s stock, valued at $1,139,730. The disclosure for this sale can be found here. Insiders sold 267,427 shares of company stock worth $6,728,242 in the last 90 days. 26.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on HCP shares. Bank of America increased their target price on shares of HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. BTIG Research cut shares of HashiCorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 24th. Oppenheimer reiterated an “outperform” rating and set a $34.00 price target on shares of HashiCorp in a research note on Wednesday, March 6th. Piper Sandler increased their price target on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Finally, JMP Securities reiterated a “market outperform” rating and set a $38.00 price target on shares of HashiCorp in a research note on Thursday, March 7th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.77.

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.