PDT Partners LLC decreased its position in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 40.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,605 shares of the company's stock after selling 36,379 shares during the period. PDT Partners LLC's holdings in HashiCorp were worth $1,781,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pentwater Capital Management LP bought a new stake in HashiCorp in the second quarter worth $91,654,000. Magnetar Financial LLC bought a new position in HashiCorp in the second quarter worth about $71,490,000. ING Groep NV raised its holdings in HashiCorp by 851.2% in the third quarter. ING Groep NV now owns 1,671,200 shares of the company's stock worth $56,587,000 after purchasing an additional 1,495,500 shares in the last quarter. Alpine Associates Management Inc. bought a new position in HashiCorp in the second quarter worth about $48,541,000. Finally, Water Island Capital LLC purchased a new position in shares of HashiCorp in the 2nd quarter valued at approximately $37,762,000. Institutional investors own 87.83% of the company's stock.
Analyst Ratings Changes
Several brokerages recently weighed in on HCP. Citigroup began coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a "neutral" rating and a $35.00 price target on the stock. Piper Sandler restated a "neutral" rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. JMP Securities restated a "market perform" rating on shares of HashiCorp in a report on Monday, September 16th. Finally, StockNews.com initiated coverage on shares of HashiCorp in a report on Friday. They issued a "hold" rating on the stock. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $32.08.
Read Our Latest Stock Analysis on HCP
Insider Buying and Selling
In related news, CFO Navam Welihinda sold 18,167 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $614,771.28. Following the completion of the transaction, the chief financial officer now owns 105,883 shares of the company's stock, valued at approximately $3,583,080.72. The trade was a 14.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at $147,638.40. This represents a 76.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 366,208 shares of company stock worth $12,391,868 in the last three months. 22.49% of the stock is currently owned by insiders.
HashiCorp Price Performance
Shares of NASDAQ HCP traded up $0.04 during mid-day trading on Friday, hitting $33.62. The company had a trading volume of 589,286 shares, compared to its average volume of 1,389,432. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -44.83 and a beta of 1.24. HashiCorp, Inc. has a 12 month low of $19.26 and a 12 month high of $34.21. The firm's 50 day simple moving average is $33.85 and its two-hundred day simple moving average is $33.71.
HashiCorp (NASDAQ:HCP - Get Free Report) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The company had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.34) EPS. Equities analysts forecast that HashiCorp, Inc. will post -0.48 earnings per share for the current year.
About HashiCorp
(
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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