11,078 Shares in HashiCorp, Inc. (NASDAQ:HCP) Acquired by SVB Wealth LLC

SVB Wealth LLC purchased a new position in HashiCorp, Inc. (NASDAQ:HCP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,078 shares of the company's stock, valued at approximately $379,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Carlson Capital L.P. bought a new position in shares of HashiCorp in the fourth quarter worth about $2,077,000. Elite Wealth Management Inc. grew its holdings in shares of HashiCorp by 9.1% in the fourth quarter. Elite Wealth Management Inc. now owns 80,405 shares of the company's stock worth $2,751,000 after purchasing an additional 6,731 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of HashiCorp by 49.6% in the fourth quarter. Handelsbanken Fonder AB now owns 36,200 shares of the company's stock worth $1,238,000 after purchasing an additional 12,000 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of HashiCorp by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 11,913 shares of the company's stock worth $408,000 after purchasing an additional 397 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of HashiCorp by 6.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 62,456 shares of the company's stock worth $2,137,000 after purchasing an additional 3,770 shares during the last quarter. 86.25% of the stock is currently owned by institutional investors.

Insider Activity at HashiCorp

In related news, CTO Armon Dadgar sold 17,800 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total value of $609,294.00. Following the completion of the transaction, the chief technology officer now directly owns 31,348 shares of the company's stock, valued at $1,073,042.04. This trade represents a 36.22 % 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 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 completion of the transaction, the chief executive officer now directly owns 465,978 shares of the company's stock, valued at $15,945,767.16. The trade was a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.49% of the stock is currently owned by insiders.

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HashiCorp Stock Performance

Shares of HCP stock remained flat at $34.78 during mid-day trading on Friday. The firm has a market cap of $7.11 billion, a PE ratio of -57.02 and a beta of 1.18. The company has a fifty day moving average price of $34.38 and a 200-day moving average price of $34.04. HashiCorp, Inc. has a 52-week low of $23.00 and a 52-week high of $34.85.

Analysts Set New Price Targets

Several research analysts have issued reports on HCP shares. JMP Securities reiterated a "market perform" rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com upgraded shares of HashiCorp from a "hold" rating to a "buy" rating in a report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $34.40.

HashiCorp Company 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.