Neo Ivy Capital Management Makes New Investment in HashiCorp, Inc. (NASDAQ:HCP)

Neo Ivy Capital Management purchased a new position in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 70,880 shares of the company's stock, valued at approximately $2,400,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HCP. Longfellow Investment Management Co. LLC acquired a new stake in shares of HashiCorp during the third quarter valued at about $38,000. American Capital Advisory LLC acquired a new stake in HashiCorp in the 2nd quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in HashiCorp in the third quarter valued at approximately $51,000. Quest Partners LLC lifted its stake in HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company's stock worth $119,000 after purchasing an additional 3,505 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company's stock worth $121,000 after buying an additional 731 shares during the period. Institutional investors and hedge funds own 86.25% of the company's stock.

HashiCorp Trading Up 0.2 %

HCP traded up $0.07 during midday trading on Wednesday, hitting $33.69. The company's stock had a trading volume of 721,952 shares, compared to its average volume of 2,934,637. HashiCorp, Inc. has a 52-week low of $20.42 and a 52-week high of $34.21. The firm has a 50-day moving average price of $33.82 and a two-hundred day moving average price of $33.74. The firm has a market cap of $6.84 billion, a P/E ratio of -55.11 and a beta of 1.21.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other HashiCorp news, insider Ledger Susan St. sold 22,232 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $752,330.88. Following the transaction, the insider now directly owns 167,747 shares of the company's stock, valued at $5,676,558.48. This trade represents a 11.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Armon Dadgar sold 35,903 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.58, for a total value of $1,205,622.74. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company's stock, valued at $51,041,600. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 352,291 shares of company stock valued at $11,912,497 over the last quarter. Company insiders own 22.49% of the company's stock.

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.