Loomis Sayles & Co. L P Decreases Stock Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Loomis Sayles & Co. L P lessened its position in HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 66.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 115,857 shares of the company's stock after selling 234,183 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.06% of HashiCorp worth $3,923,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. American Capital Advisory LLC bought a new stake in shares of HashiCorp in the 2nd quarter worth approximately $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HashiCorp in the third quarter worth $51,000. Advisors Asset Management Inc. grew its stake in shares of HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company's stock worth $86,000 after acquiring an additional 961 shares during the last quarter. Quest Partners LLC increased its holdings in shares of HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company's stock valued at $119,000 after acquiring an additional 3,505 shares in the last quarter. Finally, KBC Group NV raised its position in shares of HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company's stock worth $121,000 after purchasing an additional 731 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors.

Insider Activity at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,903 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $33.90, for a total transaction of $1,217,111.70. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company's stock, valued at $51,528,000. This trade represents a 2.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Mcjannet sold 48,055 shares of the business's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the transaction, the chief executive officer now directly owns 419,531 shares in the company, valued at $14,196,929.04. This trade represents a 10.28 % decrease in their position. 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. 22.49% of the stock is owned by corporate insiders.

HashiCorp Stock Down 0.6 %

NASDAQ:HCP traded down $0.19 during mid-day trading on Thursday, hitting $33.58. 4,369,276 shares of the company traded hands, compared to its average volume of 2,984,919. HashiCorp, Inc. has a one year low of $19.26 and a one year high of $34.21. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -44.77 and a beta of 1.24. The stock's fifty day moving average price is $33.86 and its 200-day moving average price is $33.70.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JMP Securities restated a "market perform" rating on shares of HashiCorp in a research note on Monday, September 16th. Piper Sandler restated a "neutral" rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. StockNews.com initiated coverage on HashiCorp in a research report on Saturday, November 23rd. They issued a "hold" rating on the stock. Finally, Citigroup initiated coverage on HashiCorp in a report 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, the company has a consensus rating of "Hold" and an average 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.