K2 Principal Fund L.P. Has $3.99 Million Holdings in HashiCorp, Inc. (NASDAQ:HCP)

K2 Principal Fund L.P. grew its position in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 34.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,951 shares of the company's stock after buying an additional 29,901 shares during the period. K2 Principal Fund L.P. owned about 0.06% of HashiCorp worth $3,994,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HCP. Xponance Inc. lifted its holdings in shares of HashiCorp by 3.1% in the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company's stock worth $346,000 after purchasing an additional 305 shares during the last quarter. Comerica Bank lifted its stake in HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company's stock valued at $497,000 after buying an additional 374 shares during the last quarter. KBC Group NV boosted its holdings in shares of HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company's stock valued at $121,000 after acquiring an additional 731 shares during the period. Victory Capital Management Inc. increased its holdings in shares of HashiCorp by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 19,090 shares of the company's stock worth $646,000 after acquiring an additional 873 shares during the period. Finally, Arizona State Retirement System lifted its position in HashiCorp by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 31,921 shares of the company's stock valued at $1,075,000 after purchasing an additional 1,065 shares during the last quarter. Institutional investors and hedge funds own 87.83% of the company's stock.

Insider Transactions at HashiCorp

In related news, CTO Armon Dadgar sold 22,779 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $770,841.36. Following the completion of the transaction, the chief technology officer now directly owns 44,934 shares in the company, valued at approximately $1,520,566.56. This represents a 33.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Marc Holmes sold 11,854 shares of the firm's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $401,139.36. Following the completion of the transaction, the chief marketing officer now directly owns 22,536 shares of the company's stock, valued at approximately $762,618.24. This trade represents a 34.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 366,207 shares of company stock worth $12,382,858. Insiders own 22.49% of the company's stock.

Analyst Upgrades and Downgrades

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

HashiCorp Stock Up 0.4 %

Shares of NASDAQ HCP traded up $0.15 during mid-day trading on Friday, hitting $33.78. 1,475,432 shares of the company traded hands, compared to its average volume of 1,406,534. HashiCorp, Inc. has a 1 year low of $19.26 and a 1 year high of $34.21. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of -55.38 and a beta of 1.21. The business has a 50 day moving average of $33.83 and a two-hundred day moving average of $33.73.

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.