ING Groep NV Has $56.59 Million Stake in HashiCorp, Inc. (NASDAQ:HCP)

ING Groep NV raised its position in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 851.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,671,200 shares of the company's stock after purchasing an additional 1,495,500 shares during the quarter. ING Groep NV owned 0.82% of HashiCorp worth $56,587,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HCP. Swiss National Bank increased its stake in shares of HashiCorp by 11.8% in the first quarter. Swiss National Bank now owns 221,600 shares of the company's stock worth $5,972,000 after acquiring an additional 23,400 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of HashiCorp in the first quarter worth $311,000. Vanguard Group Inc. increased its stake in shares of HashiCorp by 14.0% in the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company's stock worth $329,454,000 after acquiring an additional 1,501,953 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of HashiCorp in the first quarter worth $457,000. Finally, Covestor Ltd increased its stake in shares of HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company's stock worth $95,000 after acquiring an additional 3,480 shares during the last quarter. 87.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at HashiCorp

In related news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $33.86, for a total value of $1,215,709.44. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company's stock, valued at $51,467,200. This represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total transaction of $169,350.00. Following the completion of the transaction, the chief financial officer now directly owns 88,322 shares of the company's stock, valued at $2,991,466.14. This trade represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 371,209 shares of company stock worth $12,559,456. Company insiders own 22.49% of the company's stock.

HashiCorp Stock Down 0.3 %

HCP stock traded down $0.09 during mid-day trading on Thursday, reaching $33.91. 1,046,696 shares of the stock traded hands, compared to its average volume of 3,036,833. HashiCorp, Inc. has a 52 week low of $19.26 and a 52 week high of $34.21. The business has a 50-day moving average of $33.87 and a two-hundred day moving average of $33.63. The firm has a market capitalization of $6.88 billion, a PE ratio of -45.21 and a beta of 1.24.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. JMP Securities reaffirmed a "market perform" rating on shares of HashiCorp in a research note on Monday, September 16th. StockNews.com assumed coverage on shares of HashiCorp in a report on Monday. They issued a "hold" rating for the company. Citigroup assumed coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a "neutral" rating and a $35.00 price objective for the company. Finally, Piper Sandler reiterated a "neutral" rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, HashiCorp has a consensus rating of "Hold" and a consensus price target of $32.08.

HashiCorp 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.