Bank of Montreal Can Sells 96,158 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Bank of Montreal Can reduced its position in HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 26.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 273,472 shares of the company's stock after selling 96,158 shares during the quarter. Bank of Montreal Can owned approximately 0.13% of HashiCorp worth $9,271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC bought a new position in HashiCorp in the third quarter worth $38,000. American Capital Advisory LLC acquired a new position in HashiCorp during the second quarter worth $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HashiCorp during the third quarter worth $51,000. Quest Partners LLC raised its stake in 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 acquiring an additional 3,505 shares in the last quarter. Finally, KBC Group NV raised its stake 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 in the last quarter. 87.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. StockNews.com initiated coverage on HashiCorp in a research note on Friday. They set a "hold" rating for the company. Piper Sandler restated a "neutral" rating and issued a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. JMP Securities restated a "market perform" rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, Citigroup initiated coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a "neutral" rating and a $35.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, HashiCorp has an average rating of "Hold" and a consensus target price of $32.08.

Insider Buying and Selling at HashiCorp

In related news, CMO Marc Holmes sold 13,916 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total transaction of $470,360.80. Following the transaction, the chief marketing officer now directly owns 4,368 shares of the company's stock, valued at approximately $147,638.40. The trade was a 76.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Armon Dadgar sold 35,903 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $33.90, for a total value of $1,217,111.70. Following the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,528,000. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,208 shares of company stock worth $12,391,868. Corporate insiders own 22.49% of the company's stock.

HashiCorp Stock Performance

HCP traded down $0.01 during midday trading on Monday, reaching $33.61. 716,185 shares of the company were exchanged, compared to its average volume of 2,964,598. HashiCorp, Inc. has a one year low of $19.26 and a one year high of $34.21. The stock has a market capitalization of $6.82 billion, a P/E ratio of -44.83 and a beta of 1.24. The stock's 50-day simple moving average is $33.85 and its 200 day simple moving average is $33.71.

HashiCorp (NASDAQ:HCP - Get Free Report) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business had revenue of $165.14 million for the quarter, compared to analysts' expectations of $157.22 million. During the same quarter in the previous year, the business posted ($0.34) EPS. HashiCorp's revenue for the quarter was up 15.3% on a year-over-year basis. On average, research analysts anticipate that HashiCorp, Inc. will post -0.48 earnings per share for the current year.

About HashiCorp

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.