LMR Partners LLP Sells 267,398 Shares of HashiCorp, Inc. (NASDAQ:HCP)

LMR Partners LLP lowered its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 25.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 787,418 shares of the company's stock after selling 267,398 shares during the period. LMR Partners LLP owned approximately 0.39% of HashiCorp worth $26,662,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of HCP. Swiss National Bank increased its holdings in shares of HashiCorp by 11.8% during the first quarter. Swiss National Bank now owns 221,600 shares of the company's stock valued at $5,972,000 after acquiring an additional 23,400 shares in the last quarter. Vanguard Group Inc. raised its holdings in 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 buying an additional 1,501,953 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of HashiCorp in the first quarter worth approximately $457,000. Covestor Ltd grew its holdings in shares of HashiCorp by 12,888.9% during the first quarter. Covestor Ltd now owns 3,507 shares of the company's stock valued at $95,000 after buying an additional 3,480 shares during the last quarter. Finally, Champlain Investment Partners LLC bought a new stake in shares of HashiCorp during the first quarter valued at approximately $48,995,000. Institutional investors own 87.83% of the company's stock.

Insider Transactions at HashiCorp

In other news, CMO Marc Holmes sold 13,916 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $147,638.40. The trade was a 76.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Navam Welihinda sold 5,000 shares of the firm's stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the transaction, the chief financial officer now directly owns 88,322 shares of the company's stock, valued at $2,991,466.14. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 371,209 shares of company stock valued at $12,559,456 over the last three months. Corporate insiders own 22.49% of the company's stock.

Wall Street Analysts Forecast Growth

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

HashiCorp Trading Down 0.2 %

NASDAQ HCP traded down $0.08 on Monday, hitting $33.66. 738,848 shares of the company traded hands, compared to its average volume of 3,021,120. The business's 50 day moving average price is $33.88 and its 200-day moving average price is $33.65. HashiCorp, Inc. has a 52-week low of $19.26 and a 52-week high of $34.21. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of -44.99 and a beta of 1.24.

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

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.