Alpine Associates Management Inc. Invests $48.54 Million in HashiCorp, Inc. (NASDAQ:HCP)

Alpine Associates Management Inc. acquired a new stake in HashiCorp, Inc. (NASDAQ:HCP) during the second quarter, according to its most recent filing with the SEC. The firm acquired 1,440,804 shares of the company’s stock, valued at approximately $48,541,000. HashiCorp comprises about 2.3% of Alpine Associates Management Inc.’s holdings, making the stock its 15th largest position.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of HashiCorp by 11.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock worth $14,821,000 after buying an additional 63,879 shares in the last quarter. Swiss National Bank lifted its holdings in HashiCorp by 11.8% in the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after acquiring an additional 23,400 shares during the period. Contour Asset Management LLC purchased a new stake in shares of HashiCorp during the 4th quarter worth $21,217,000. GGV Capital LLC grew its stake in shares of HashiCorp by 4.6% during the 4th quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock worth $15,579,000 after purchasing an additional 29,064 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of HashiCorp in the 4th quarter valued at about $3,158,000. 87.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Piper Sandler reissued a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. StockNews.com began coverage on HashiCorp in a research note on Thursday. They issued a “hold” rating for the company. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Thursday, June 6th. Finally, Citigroup initiated coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Trading Up 0.1 %

Shares of HCP stock opened at $33.84 on Monday. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of -35.25 and a beta of 1.25. The firm has a 50-day moving average price of $33.69 and a 200 day moving average price of $31.44. HashiCorp, Inc. has a twelve month low of $18.91 and a twelve month high of $34.05.

HashiCorp (NASDAQ:HCP) last announced 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 the consensus estimate of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. As a group, research analysts predict that HashiCorp, Inc. will post -0.59 earnings per share for the current year.

Insider Transactions at HashiCorp

In related news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.26, for a total transaction of $1,598,309.30. Following the transaction, the chief executive officer now directly owns 373,330 shares in the company, valued at $12,416,955.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Armon Dadgar sold 18,349 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total transaction of $610,287.74. Following the completion of the sale, the chief technology officer now directly owns 44,371 shares of the company’s stock, valued at approximately $1,475,779.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Mcjannet sold 48,055 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $33.26, for a total value of $1,598,309.30. Following the completion of the transaction, the chief executive officer now directly owns 373,330 shares in the company, valued at $12,416,955.80. The disclosure for this sale can be found here. Insiders have sold 406,736 shares of company stock worth $13,640,495 over the last quarter. 22.49% of the stock is currently owned by insiders.

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.