HashiCorp, Inc. (NASDAQ:HCP) Stake Raised by ClearAlpha Technologies LP

ClearAlpha Technologies LP lifted its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 26.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 265,768 shares of the company’s stock after acquiring an additional 56,392 shares during the quarter. HashiCorp accounts for about 2.5% of ClearAlpha Technologies LP’s portfolio, making the stock its 4th largest position. ClearAlpha Technologies LP owned 0.13% of HashiCorp worth $8,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. New York Life Investment Management LLC purchased a new stake in shares of HashiCorp in the 2nd quarter valued at approximately $11,407,000. K2 Principal Fund L.P. purchased a new position in HashiCorp in the second quarter valued at $2,966,000. Alpine Associates Management Inc. raised its stake in HashiCorp by 48.7% in the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after buying an additional 701,350 shares in the last quarter. Versor Investments LP lifted its holdings in HashiCorp by 518.9% during the 3rd quarter. Versor Investments LP now owns 157,725 shares of the company’s stock worth $5,341,000 after buying an additional 132,239 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of HashiCorp during the 2nd quarter worth about $857,000. 87.83% of the stock is currently owned by institutional investors and hedge funds.

HashiCorp Trading Up 0.1 %

HashiCorp stock opened at $33.62 on Monday. The stock has a 50 day moving average of $33.85 and a two-hundred day moving average of $33.71. HashiCorp, Inc. has a twelve month low of $19.26 and a twelve month high of $34.21. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -44.83 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company earned ($0.34) earnings per share. Equities analysts predict that HashiCorp, Inc. will post -0.48 earnings per share for the current year.

Insider Transactions at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,903 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $33.90, for a total transaction of $1,217,111.70. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,528,000. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the sale, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at $147,638.40. This represents a 76.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 366,208 shares of company stock worth $12,391,868. Company insiders own 22.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on HCP. Piper Sandler restated a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. StockNews.com began coverage on shares of HashiCorp in a research report on Friday. They set a “hold” rating for the company. Citigroup assumed coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price for the company. Finally, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, HashiCorp presently has an average rating of “Hold” and an average price target of $32.08.

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.