440,278 Shares in HashiCorp, Inc. (NASDAQ:HCP) Purchased by Bardin Hill Management Partners LP

Bardin Hill Management Partners LP purchased a new stake in HashiCorp, Inc. (NASDAQ:HCP - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 440,278 shares of the company's stock, valued at approximately $14,908,000. HashiCorp makes up approximately 6.9% of Bardin Hill Management Partners LP's investment portfolio, making the stock its 3rd largest holding. Bardin Hill Management Partners LP owned about 0.22% of HashiCorp as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Pentwater Capital Management LP purchased a new position in HashiCorp during the second quarter worth $91,654,000. Magnetar Financial LLC acquired a new stake in shares of HashiCorp in the second quarter valued at about $71,490,000. ING Groep NV boosted its stake in shares of HashiCorp by 851.2% in the third quarter. ING Groep NV now owns 1,671,200 shares of the company's stock valued at $56,587,000 after purchasing an additional 1,495,500 shares during the period. Alpine Associates Management Inc. acquired a new stake in shares of HashiCorp during the second quarter valued at about $48,541,000. Finally, Westchester Capital Management LLC increased its holdings in HashiCorp by 60.5% during the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company's stock worth $108,363,000 after purchasing an additional 1,206,073 shares during the last quarter. Hedge funds and other institutional investors own 87.83% of the company's stock.

Insider Activity at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 419,531 shares in the company, valued at $14,196,929.04. This trade represents a 10.28 % decrease in their position. The transaction 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 on Tuesday, September 3rd. The shares were sold at an average price of $33.83, for a total value of $1,214,632.32. Following the transaction, the chief technology officer now owns 1,520,000 shares of the company's stock, valued at approximately $51,421,600. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 366,208 shares of company stock valued at $12,391,868 over the last ninety days. Insiders own 22.49% of the company's stock.

HashiCorp Stock Performance

NASDAQ HCP traded down $0.06 on Monday, hitting $33.56. The stock had a trading volume of 1,007,355 shares, compared to its average volume of 2,965,985. HashiCorp, Inc. has a 52-week low of $19.26 and a 52-week high of $34.21. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of -44.83 and a beta of 1.24. The firm has a 50-day moving average of $33.85 and a 200-day moving average of $33.71.

HashiCorp (NASDAQ:HCP - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $165.14 million during the quarter, compared to analysts' expectations of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.34) EPS. As a group, research analysts anticipate that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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