HashiCorp, Inc. (NASDAQ:HCP) Shares Sold by Twin Securities Inc.

Twin Securities Inc. cut its stake in HashiCorp, Inc. (NASDAQ:HCP) by 17.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,356 shares of the company’s stock after selling 28,858 shares during the quarter. HashiCorp makes up 5.2% of Twin Securities Inc.’s portfolio, making the stock its 6th biggest holding. Twin Securities Inc.’s holdings in HashiCorp were worth $4,617,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. acquired a new stake in shares of HashiCorp in the first quarter worth about $1,070,000. New York Life Investment Management LLC acquired a new stake in HashiCorp in the 2nd quarter worth approximately $11,407,000. K2 Principal Fund L.P. bought a new stake in HashiCorp during the second quarter worth approximately $2,966,000. Alpine Associates Management Inc. boosted its position in HashiCorp by 48.7% during the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after purchasing an additional 701,350 shares during the period. Finally, Versor Investments LP grew its holdings 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 purchasing an additional 132,239 shares during the last quarter. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com started coverage on shares of HashiCorp in a research note on Friday. They issued a “hold” rating for the company. Piper Sandler reissued a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, Citigroup assumed coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.08.

Insiders Place Their Bets

In other news, insider Ledger Susan St. sold 22,232 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $752,330.88. Following the completion of the transaction, the insider now directly owns 167,747 shares of the company’s stock, valued at approximately $5,676,558.48. This represents a 11.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Navam Welihinda sold 18,167 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $614,771.28. Following the completion of the sale, the chief financial officer now directly owns 105,883 shares in the company, valued at approximately $3,583,080.72. This represents a 14.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 366,208 shares of company stock worth $12,391,868 over the last 90 days. Corporate insiders own 22.49% of the company’s stock.

HashiCorp Stock Up 0.1 %

HashiCorp stock opened at $33.62 on Friday. The business has a 50 day moving average price of $33.85 and a two-hundred day moving average price of $33.70. HashiCorp, Inc. has a 12 month low of $19.26 and a 12 month high of $34.21. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -44.83 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. HashiCorp’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.34) earnings per share. On average, analysts expect that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

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.