Handelsbanken Fonder AB Acquires 12,000 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Handelsbanken Fonder AB lifted its holdings in HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 49.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,200 shares of the company's stock after buying an additional 12,000 shares during the quarter. Handelsbanken Fonder AB's holdings in HashiCorp were worth $1,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Longfellow Investment Management Co. LLC acquired a new stake in shares of HashiCorp in the 3rd quarter worth $38,000. Blue Trust Inc. boosted its position in HashiCorp by 331.2% in the 4th quarter. Blue Trust Inc. now owns 2,057 shares of the company's stock worth $70,000 after purchasing an additional 1,580 shares in the last quarter. KBC Group NV grew its position in HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company's stock valued at $121,000 after buying an additional 731 shares during the period. Quest Partners LLC grew its position in shares of HashiCorp by 64.8% during the 3rd quarter. Quest Partners LLC now owns 5,837 shares of the company's stock valued at $198,000 after acquiring an additional 2,296 shares during the period. Finally, MetLife Investment Management LLC increased its position in shares of HashiCorp by 43.8% in the third quarter. MetLife Investment Management LLC now owns 7,491 shares of the company's stock valued at $254,000 after buying an additional 2,282 shares in the last quarter. 86.25% of the stock is owned by institutional investors.

HashiCorp Price Performance

Shares of NASDAQ HCP remained flat at $34.78 during midday trading on Friday. The stock's 50-day simple moving average is $34.32 and its two-hundred day simple moving average is $34.01. HashiCorp, Inc. has a 12 month low of $23.00 and a 12 month high of $34.85. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18.

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Insider Activity

In other news, CTO Armon Dadgar sold 17,800 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $34.23, for a total transaction of $609,294.00. Following the completion of the sale, the chief technology officer now owns 31,348 shares in the company, valued at $1,073,042.04. The trade was a 36.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Mcjannet sold 47,526 shares of the company's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the transaction, the chief executive officer now directly owns 465,978 shares in the company, valued at $15,945,767.16. This represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,229 shares of company stock valued at $3,441,256. 22.49% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on HCP. JMP Securities reaffirmed a "market perform" rating on shares of HashiCorp in a research note on Monday, December 16th. StockNews.com upgraded HashiCorp from a "hold" rating to a "buy" rating in a research report on Monday, January 13th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $32.27.

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.