Perigon Wealth Management LLC Raises Position in HashiCorp, Inc. (NASDAQ:HCP)

Perigon Wealth Management LLC raised its stake in HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 42.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 240,982 shares of the company's stock after purchasing an additional 72,088 shares during the quarter. Perigon Wealth Management LLC owned 0.12% of HashiCorp worth $8,268,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Westchester Capital Management LLC raised its position in HashiCorp by 60.5% during the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company's stock valued at $108,363,000 after purchasing an additional 1,206,073 shares during the last quarter. Geode Capital Management LLC lifted its stake in HashiCorp by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company's stock worth $85,417,000 after acquiring an additional 385,118 shares during the period. State Street Corp boosted its holdings in HashiCorp by 14.5% in the third quarter. State Street Corp now owns 2,239,850 shares of the company's stock valued at $75,841,000 after acquiring an additional 282,965 shares in the last quarter. Alpine Associates Management Inc. increased its position in HashiCorp by 48.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company's stock valued at $72,533,000 after purchasing an additional 701,350 shares during the period. Finally, ING Groep NV raised its holdings in HashiCorp by 851.2% in the 3rd quarter. ING Groep NV now owns 1,671,200 shares of the company's stock worth $56,587,000 after purchasing an additional 1,495,500 shares in the last quarter. Hedge funds and other institutional investors own 86.25% of the company's stock.

HashiCorp Price Performance

HCP stock traded down $0.04 during trading on Friday, hitting $34.22. 2,115,501 shares of the stock traded hands, compared to its average volume of 2,406,943. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of -56.09 and a beta of 1.18. HashiCorp, Inc. has a 1 year low of $21.50 and a 1 year high of $34.47. The firm's 50 day moving average is $34.07 and its two-hundred day moving average is $33.89.

Insider Activity at HashiCorp

In other news, CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $33.90, for a total value of $1,217,111.70. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,528,000. The trade was a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Mcjannet sold 47,526 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the transaction, the chief executive officer now owns 465,978 shares in the company, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 173,036 shares of company stock valued at $5,874,078 over the last 90 days. Corporate insiders own 22.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HCP. JMP Securities reaffirmed a "market perform" rating on shares of HashiCorp in a research note on Monday, December 16th. StockNews.com raised HashiCorp from a "hold" rating to a "buy" rating in a research report on Monday, January 13th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $32.08.

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.