Creative Planning Lowers Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Creative Planning reduced its position in HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 63.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,529 shares of the company's stock after selling 21,449 shares during the quarter. Creative Planning's holdings in HashiCorp were worth $424,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company's stock worth $329,454,000 after buying an additional 1,501,953 shares in the last quarter. Whale Rock Capital Management LLC grew its stake in HashiCorp by 293.2% in the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company's stock worth $123,046,000 after buying an additional 3,404,557 shares in the last quarter. Jericho Capital Asset Management L.P. grew its stake in HashiCorp by 53.3% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company's stock worth $89,985,000 after buying an additional 1,161,600 shares in the last quarter. Pentwater Capital Management LP purchased a new position in HashiCorp in the 2nd quarter worth approximately $91,654,000. Finally, Magnetar Financial LLC purchased a new position in HashiCorp in the 2nd quarter worth approximately $71,490,000. 87.83% of the stock is currently owned by institutional investors.

HashiCorp Stock Performance

Shares of HashiCorp stock traded down $0.03 during trading on Thursday, hitting $34.04. The company's stock had a trading volume of 969,643 shares, compared to its average volume of 3,080,357. The company has a fifty day simple moving average of $33.86 and a two-hundred day simple moving average of $33.49. The company has a market capitalization of $6.91 billion, a PE ratio of -45.39 and a beta of 1.24. HashiCorp, Inc. has a 52 week low of $19.26 and a 52 week high of $34.13.

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

Insider Activity at HashiCorp

In other news, CFO Navam Welihinda sold 5,000 shares of the firm's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the sale, the chief financial officer now owns 88,322 shares of the company's stock, valued at $2,991,466.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CMO Marc Holmes sold 13,916 shares of the business's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $33.66, for a total transaction of $468,412.56. Following the completion of the sale, the chief marketing officer now owns 4,368 shares of the company's stock, valued at $147,026.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Navam Welihinda sold 5,000 shares of the firm's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the transaction, the chief financial officer now directly owns 88,322 shares in the company, valued at approximately $2,991,466.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 385,125 shares of company stock valued at $13,027,869. 22.49% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HCP. Citigroup initiated coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They issued a "neutral" rating and a $35.00 price target for the company. JMP Securities reaffirmed a "market perform" rating on shares of HashiCorp in a research note on Monday, September 16th. Piper Sandler reaffirmed a "neutral" rating and issued a $35.00 price objective on shares of HashiCorp in a research note on Friday, August 30th. Finally, StockNews.com initiated coverage on shares of HashiCorp in a research note on Tuesday. They issued a "hold" rating for the company. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, HashiCorp currently has a consensus rating of "Hold" and a consensus target price 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.