Melqart Asset Management UK Ltd Acquires New Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Melqart Asset Management UK Ltd purchased a new position in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 833,544 shares of the company's stock, valued at approximately $28,224,000. HashiCorp makes up 2.6% of Melqart Asset Management UK Ltd's portfolio, making the stock its 13th biggest holding. Melqart Asset Management UK Ltd owned about 0.41% of HashiCorp at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HCP. Longfellow Investment Management Co. LLC acquired a new position in HashiCorp in the third quarter valued at $38,000. American Capital Advisory LLC acquired a new position in HashiCorp in the second quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HashiCorp in the third quarter valued at $51,000. Quest Partners LLC increased its stake in HashiCorp by 9,736.1% in the second quarter. Quest Partners LLC now owns 3,541 shares of the company's stock valued at $119,000 after purchasing an additional 3,505 shares during the period. Finally, KBC Group NV increased its stake in HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company's stock valued at $121,000 after purchasing an additional 731 shares during the period. 87.83% of the stock is currently owned by institutional investors and hedge funds.

HashiCorp Trading Up 0.0 %

Shares of HashiCorp stock traded up $0.01 during mid-day trading on Wednesday, hitting $33.58. 1,764,992 shares of the stock were exchanged, compared to its average volume of 2,956,990. HashiCorp, Inc. has a twelve month low of $19.26 and a twelve month high of $34.21. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of -44.76 and a beta of 1.21. The company has a 50-day simple moving average of $33.84 and a 200 day simple moving average of $33.72.

Wall Street Analysts Forecast Growth

HCP has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They issued a "neutral" rating and a $35.00 price objective on the stock. StockNews.com started coverage on shares of HashiCorp in a report on Friday, November 29th. They issued a "hold" rating for the company. Piper Sandler reiterated a "neutral" rating and issued a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Finally, JMP Securities reissued a "market perform" rating on shares of HashiCorp in a research note on Monday, September 16th. Twelve 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 company presently has a consensus rating of "Hold" and a consensus target price of $32.08.

Insider Buying and Selling

In related news, CTO Armon Dadgar sold 35,903 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.58, for a total value of $1,205,622.74. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,041,600. This trade represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Mcjannet sold 48,055 shares of HashiCorp stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the sale, the chief executive officer now owns 419,531 shares in the company, valued at $14,196,929.04. This represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 366,207 shares of company stock valued at $12,382,858. Insiders own 22.49% of the company's stock.

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.