HashiCorp, Inc. (NASDAQ:HCP) Shares Sold by Ieq Capital LLC

Ieq Capital LLC reduced its position in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 56.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 312,476 shares of the company's stock after selling 402,834 shares during the period. Ieq Capital LLC owned approximately 0.15% of HashiCorp worth $10,690,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of HashiCorp by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 11,913 shares of the company's stock worth $408,000 after buying an additional 397 shares in the last quarter. KBC Group NV grew its holdings in HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company's stock worth $121,000 after acquiring an additional 731 shares during the period. Victory Capital Management Inc. raised its position in HashiCorp by 4.8% in the third quarter. Victory Capital Management Inc. now owns 19,090 shares of the company's stock worth $646,000 after acquiring an additional 873 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in HashiCorp in the third quarter valued at $38,000. Finally, Ashton Thomas Private Wealth LLC boosted its position in shares of HashiCorp by 15.9% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 8,461 shares of the company's stock worth $286,000 after purchasing an additional 1,160 shares in the last quarter. Institutional investors and hedge funds own 86.25% of the company's stock.

Insider Activity at HashiCorp

In other news, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the sale, the chief executive officer now owns 465,978 shares of the company's stock, valued at $15,945,767.16. The trade was a 9.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Armon Dadgar sold 35,903 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.58, for a total value of $1,205,622.74. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,041,600. This trade represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,229 shares of company stock valued at $3,441,256. 22.49% of the stock is owned by insiders.

HashiCorp Price Performance

HashiCorp stock traded up $0.03 during mid-day trading on Friday, hitting $34.51. 1,870,048 shares of the company were exchanged, compared to its average volume of 2,974,345. The company has a market capitalization of $7.05 billion, a P/E ratio of -56.56 and a beta of 1.18. HashiCorp, Inc. has a 12-month low of $21.50 and a 12-month high of $34.54. The business's 50 day simple moving average is $34.24 and its two-hundred day simple moving average is $33.96.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HCP shares. JMP Securities reissued a "market perform" rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com raised HashiCorp from a "hold" rating to a "buy" rating in a research note on Monday, January 13th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.