HashiCorp, Inc. (NASDAQ:HCP) Stock Holdings Increased by Alpine Associates Management Inc.

Alpine Associates Management Inc. raised its position in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 48.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,142,154 shares of the company's stock after acquiring an additional 701,350 shares during the period. HashiCorp makes up about 3.3% of Alpine Associates Management Inc.'s investment portfolio, making the stock its 12th largest position. Alpine Associates Management Inc. owned 1.06% of HashiCorp worth $72,533,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American Capital Advisory LLC acquired a new stake in HashiCorp in the second quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HashiCorp during the third quarter worth $51,000. Advisors Asset Management Inc. boosted its position in HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company's stock valued at $86,000 after buying an additional 961 shares during the last quarter. Covestor Ltd raised its holdings in shares of HashiCorp by 12,888.9% during the first quarter. Covestor Ltd now owns 3,507 shares of the company's stock worth $95,000 after purchasing an additional 3,480 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in shares of HashiCorp by 9,736.1% in the second quarter. Quest Partners LLC now owns 3,541 shares of the company's stock worth $119,000 after buying an additional 3,505 shares during the last quarter. 87.83% of the stock is owned by institutional investors.

HashiCorp Stock Performance

HashiCorp stock traded up $0.15 during midday trading on Wednesday, reaching $33.76. The company's stock had a trading volume of 282,009 shares, compared to its average volume of 3,003,928. 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 capitalization of $6.85 billion, a PE ratio of -44.81 and a beta of 1.24. The stock's 50 day simple moving average is $33.87 and its 200 day simple moving average is $33.66.

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

Insider Transactions at HashiCorp

In other news, CEO David Mcjannet sold 48,055 shares of HashiCorp stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the sale, the chief executive officer now directly owns 419,531 shares of the company's stock, valued at approximately $14,196,929.04. The trade was a 10.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company's stock, valued at $51,467,200. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 371,209 shares of company stock valued at $12,559,456 in the last 90 days. 22.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HCP shares. JMP Securities reiterated a "market perform" rating on shares of HashiCorp in a research note on Monday, September 16th. StockNews.com assumed coverage on shares of HashiCorp in a research note on Sunday. They issued a "hold" rating on the stock. Citigroup assumed coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a "neutral" rating and a $35.00 price target for the company. Finally, Piper Sandler reissued a "neutral" rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, HashiCorp currently has an average rating of "Hold" and a consensus price target of $32.08.

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.