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Fmr LLC Sells 33,928 Shares of HashiCorp, Inc. (NASDAQ:HCP)

HashiCorp logo with Computer and Technology background

FMR LLC cut its stake in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 63.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,390 shares of the company's stock after selling 33,928 shares during the period. FMR LLC's holdings in HashiCorp were worth $657,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Longfellow Investment Management Co. LLC bought a new stake in HashiCorp during the third quarter valued at $38,000. American Capital Advisory LLC bought a new stake in shares of HashiCorp during the 2nd quarter valued at about $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HashiCorp during the 3rd quarter valued at about $51,000. Quest Partners LLC grew its holdings in shares of HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company's stock worth $119,000 after purchasing an additional 3,505 shares in the last quarter. Finally, KBC Group NV increased its position in shares of HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company's stock worth $121,000 after purchasing an additional 731 shares during the last quarter. 86.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at HashiCorp

In related news, CEO David Mcjannet sold 48,055 shares of the firm's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the completion of the sale, the chief executive officer now owns 419,531 shares of the company's stock, valued at $14,196,929.04. This trade represents a 10.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.58, for a total transaction of $1,205,622.74. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,041,600. This trade 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 352,291 shares of company stock worth $11,912,497. Insiders own 22.49% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com started coverage on shares of HashiCorp in a research note on Tuesday. They issued a "hold" rating for the company. Piper Sandler reiterated a "neutral" rating and issued a $35.00 target price on shares of HashiCorp in a research report 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 target on the stock. Finally, JMP Securities reiterated a "market perform" rating on shares of HashiCorp in a report on Monday. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, HashiCorp currently has an average rating of "Hold" and an average price target of $32.08.

Check Out Our Latest Analysis on HashiCorp

HashiCorp Price Performance

HashiCorp stock traded up $0.18 during trading hours on Wednesday, reaching $34.08. The company had a trading volume of 7,503,316 shares, compared to its average volume of 2,956,219. HashiCorp, Inc. has a 12-month low of $20.89 and a 12-month high of $34.21. The company has a 50-day moving average price of $33.81 and a 200 day moving average price of $33.75. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of -55.87 and a beta of 1.21.

HashiCorp Profile

(Free Report)

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.

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Institutional Ownership by Quarter for HashiCorp (NASDAQ:HCP)

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