HashiCorp, Inc. (NASDAQ:HCP) Holdings Cut by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. reduced its stake in HashiCorp, Inc. (NASDAQ:HCP) by 14.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,824 shares of the company’s stock after selling 3,559 shares during the period. Landscape Capital Management L.L.C.’s holdings in HashiCorp were worth $705,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Alpine Associates Management Inc. boosted its position in HashiCorp by 48.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after purchasing an additional 701,350 shares during the period. Quest Partners LLC increased its position in HashiCorp by 64.8% in the third quarter. Quest Partners LLC now owns 5,837 shares of the company’s stock worth $198,000 after buying an additional 2,296 shares during the period. Swiss National Bank lifted its stake in HashiCorp by 26.0% in the third quarter. Swiss National Bank now owns 282,700 shares of the company’s stock valued at $9,572,000 after buying an additional 58,300 shares during the last quarter. ING Groep NV boosted its holdings in shares of HashiCorp by 851.2% during the third quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock valued at $56,587,000 after acquiring an additional 1,495,500 shares during the period. Finally, KBC Group NV grew its position in shares of HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after acquiring an additional 731 shares during the last quarter. 87.83% of the stock is owned by institutional investors.

HashiCorp Stock Up 0.2 %

Shares of HashiCorp stock opened at $33.92 on Friday. The business has a fifty day simple moving average of $33.87 and a 200-day simple moving average of $33.67. HashiCorp, Inc. has a fifty-two week low of $19.26 and a fifty-two week high of $34.21. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of -45.23 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 company had revenue of $165.14 million during 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%. HashiCorp’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.34) EPS. Analysts anticipate that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction dated 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 transaction, the chief marketing officer now directly owns 4,368 shares in the company, valued at $147,638.40. This trade represents a 76.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,467,200. This represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 330,305 shares of company stock worth $11,174,756. 22.49% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HCP. Piper Sandler reissued a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. Citigroup initiated 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. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, StockNews.com began coverage on HashiCorp in a research report on Saturday. They set a “hold” rating for the company. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.08.

About HashiCorp

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.