HashiCorp, Inc. (NASDAQ:HCP) Shares Purchased by State Street Corp

State Street Corp raised its position in HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 14.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,239,850 shares of the company's stock after acquiring an additional 282,965 shares during the period. State Street Corp owned approximately 1.10% of HashiCorp worth $75,841,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Westchester Capital Management LLC grew its stake in HashiCorp by 60.5% in the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company's stock valued at $108,363,000 after acquiring an additional 1,206,073 shares during the last quarter. Pentwater Capital Management LP acquired a new stake in shares of HashiCorp in the second quarter valued at approximately $91,654,000. Alpine Associates Management Inc. increased its stake in shares of HashiCorp by 48.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company's stock worth $72,533,000 after purchasing an additional 701,350 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of HashiCorp during the 2nd quarter worth approximately $71,490,000. Finally, ING Groep NV lifted its stake in HashiCorp by 851.2% in the 3rd quarter. ING Groep NV now owns 1,671,200 shares of the company's stock valued at $56,587,000 after buying an additional 1,495,500 shares in the last quarter. Hedge funds and other institutional investors own 86.25% of the company's stock.

Wall Street Analyst Weigh In

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

HashiCorp Stock Up 0.5 %

Shares of NASDAQ:HCP traded up $0.18 on Wednesday, reaching $34.08. 7,503,316 shares of the company's stock were exchanged, compared to its average volume of 2,956,219. The business's 50-day moving average is $33.81 and its two-hundred day moving average is $33.75. HashiCorp, Inc. has a fifty-two week low of $20.89 and a fifty-two week high of $34.21. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of -55.87 and a beta of 1.21.

Insider Transactions at HashiCorp

In related news, CTO Armon Dadgar sold 22,779 shares of HashiCorp stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $770,841.36. Following the sale, the chief technology officer now directly owns 44,934 shares in the company, valued at $1,520,566.56. This trade represents a 33.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Mcjannet sold 48,055 shares of the firm's 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 completion of the sale, the chief executive officer now owns 419,531 shares in the company, valued at $14,196,929.04. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 352,291 shares of company stock worth $11,912,497. 22.49% of the stock is currently owned by company insiders.

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.