Handelsbanken Fonder AB Acquires New Position in HashiCorp, Inc. (NASDAQ:HCP)

Handelsbanken Fonder AB acquired a new stake in shares of HashiCorp, Inc. (NASDAQ:HCP) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 18,000 shares of the company’s stock, valued at approximately $426,000.

Several other large investors also recently bought and sold shares of HCP. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of HashiCorp in the 3rd quarter valued at approximately $309,000. Qsemble Capital Management LP purchased a new stake in shares of HashiCorp in the 3rd quarter valued at approximately $1,119,000. Artemis Investment Management LLP purchased a new stake in shares of HashiCorp in the 4th quarter valued at approximately $7,124,000. Vanguard Group Inc. grew its stake in shares of HashiCorp by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after buying an additional 455,179 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of HashiCorp in the 3rd quarter valued at approximately $491,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

HashiCorp Stock Up 0.5 %

HashiCorp stock opened at $32.62 on Thursday. HashiCorp, Inc. has a 52-week low of $18.91 and a 52-week high of $36.39. The company’s 50 day moving average is $26.65 and its two-hundred day moving average is $23.68. The firm has a market cap of $6.51 billion, a PE ratio of -33.29 and a beta of 1.42.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HCP shares. Truist Financial restated a “hold” rating and issued a $35.00 price objective (up from $27.00) on shares of HashiCorp in a report on Thursday, April 25th. JMP Securities restated a “market outperform” rating and issued a $38.00 price objective on shares of HashiCorp in a report on Thursday, March 7th. Morgan Stanley upgraded shares of HashiCorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $23.00 to $30.00 in a report on Monday, February 26th. Piper Sandler upped their price objective on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, Oppenheimer restated an “outperform” rating and issued a $34.00 price objective on shares of HashiCorp in a report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.77.

Insider Activity

In other news, CFO Navam Welihinda sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total value of $54,600.00. Following the sale, the chief financial officer now directly owns 62,844 shares in the company, valued at approximately $1,372,512.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Navam Welihinda sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total value of $54,600.00. Following the sale, the chief financial officer now directly owns 62,844 shares in the company, valued at approximately $1,372,512.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on 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 $41,546,035.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 267,427 shares of company stock worth $6,728,242. 26.13% of the stock is currently owned by corporate insiders.

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.