HashiCorp, Inc. (NASDAQ:HCP) Stock Position Raised by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 18.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,522,002 shares of the company's stock after purchasing an additional 385,118 shares during the period. Geode Capital Management LLC owned about 1.24% of HashiCorp worth $85,417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HCP. Bank of New York Mellon Corp lifted its position in shares of HashiCorp by 42.3% during the second quarter. Bank of New York Mellon Corp now owns 675,550 shares of the company's stock worth $22,759,000 after purchasing an additional 200,837 shares during the last quarter. American Capital Advisory LLC acquired a new stake in HashiCorp during the second quarter valued at approximately $40,000. Maryland State Retirement & Pension System bought a new position in HashiCorp during the 2nd quarter worth approximately $247,000. Picton Mahoney Asset Management acquired a new position in shares of HashiCorp in the 2nd quarter worth approximately $32,330,000. Finally, Pentwater Capital Management LP bought a new stake in shares of HashiCorp in the 2nd quarter valued at approximately $91,654,000. 86.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HCP shares. JMP Securities restated a "market perform" rating on shares of HashiCorp in a research note on Monday. StockNews.com started coverage on shares of HashiCorp in a research report on Tuesday. They issued a "hold" rating on the stock. Citigroup started coverage on shares of 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 reiterated a "neutral" rating and set a $35.00 price objective on shares of HashiCorp in a research note on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, HashiCorp presently has an average rating of "Hold" and a consensus target price of $32.08.

Insider Transactions at HashiCorp

In other news, CMO Marc Holmes sold 13,782 shares of the business's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total value of $465,969.42. Following the sale, the chief marketing officer now owns 8,754 shares of the company's stock, valued at approximately $295,972.74. The trade was a 61.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Armon Dadgar sold 35,903 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.58, for a total value of $1,205,622.74. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares of the company's stock, 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 quarter, insiders sold 229,204 shares of company stock valued at $7,747,233. 22.49% of the stock is currently owned by corporate insiders.

HashiCorp Trading Up 0.1 %

HCP traded up $0.05 during trading hours on Friday, hitting $34.27. The company's stock had a trading volume of 5,571,008 shares, compared to its average volume of 2,968,167. The company has a 50-day simple moving average of $33.82 and a 200 day simple moving average of $33.76. The firm has a market capitalization of $7.01 billion, a PE ratio of -56.18 and a beta of 1.21. HashiCorp, Inc. has a fifty-two week low of $20.89 and a fifty-two week high of $34.33.

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.