Renaissance Capital LLC Raises Position in HashiCorp, Inc. (NASDAQ:HCP)

Renaissance Capital LLC increased its stake in HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 76.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,143 shares of the company's stock after acquiring an additional 65,717 shares during the period. HashiCorp comprises about 3.4% of Renaissance Capital LLC's holdings, making the stock its 13th largest holding. Renaissance Capital LLC owned approximately 0.08% of HashiCorp worth $5,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Kapitalo Investimentos Ltda increased its holdings in HashiCorp by 123.1% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 373,882 shares of the company's stock valued at $12,660,000 after purchasing an additional 206,307 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in HashiCorp during the 3rd quarter valued at about $51,000. Wedmont Private Capital purchased a new position in shares of HashiCorp during the 3rd quarter worth approximately $344,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of HashiCorp by 2,195.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 968,500 shares of the company's stock worth $32,629,000 after acquiring an additional 926,300 shares during the period. Finally, University of Texas Texas AM Investment Management Co. grew its holdings in shares of HashiCorp by 298.0% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 397,124 shares of the company's stock worth $13,379,000 after acquiring an additional 297,341 shares during the period. Hedge funds and other institutional investors own 87.83% of the company's stock.

HashiCorp Stock Down 0.3 %

HCP traded down $0.10 on Wednesday, hitting $33.76. The company had a trading volume of 3,550,704 shares, compared to its average volume of 3,202,541. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $34.06. The business's fifty day simple moving average is $33.84 and its 200 day simple moving average is $32.58. The company has a market cap of $6.79 billion, a PE ratio of -35.17 and a beta of 1.25.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HCP shares. JMP Securities reiterated a "market perform" rating on shares of HashiCorp in a report on Monday, September 16th. StockNews.com started coverage on HashiCorp in a report on Saturday. They set a "hold" rating on the stock. Citigroup started coverage on HashiCorp in a report on Tuesday, September 3rd. They set a "neutral" rating and a $35.00 target price on the stock. Finally, Piper Sandler reiterated a "neutral" rating and set a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $32.08.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the sale, the chief financial officer now owns 91,485 shares in the company, valued at approximately $3,064,747.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total transaction of $167,500.00. Following the completion of the transaction, the chief financial officer now owns 91,485 shares of the company's stock, valued at approximately $3,064,747.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the firm's stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total transaction of $1,202,784.00. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares of the company's stock, valued at $50,920,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 390,125 shares of company stock valued at $13,178,494. 22.49% of the stock is owned by insiders.

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.