Syquant Capital Sas Takes $18.55 Million Position in HashiCorp, Inc. (NASDAQ:HCP)

Syquant Capital Sas purchased a new stake in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 542,344 shares of the company's stock, valued at approximately $18,554,000. HashiCorp comprises about 26.3% of Syquant Capital Sas' investment portfolio, making the stock its 2nd largest position. Syquant Capital Sas owned about 0.27% of HashiCorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HCP. Westchester Capital Management LLC lifted its position in shares of HashiCorp by 60.5% during the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company's stock worth $108,363,000 after purchasing an additional 1,206,073 shares in the last quarter. Geode Capital Management LLC boosted its position in HashiCorp by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company's stock valued at $85,417,000 after buying an additional 385,118 shares during the last quarter. State Street Corp raised its position in shares of HashiCorp by 14.5% during the third quarter. State Street Corp now owns 2,239,850 shares of the company's stock worth $75,841,000 after acquiring an additional 282,965 shares during the last quarter. Alpine Associates Management Inc. raised its position in shares of HashiCorp by 48.7% during the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company's stock worth $72,533,000 after acquiring an additional 701,350 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of HashiCorp during the second quarter valued at $71,490,000. 86.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on HCP shares. JMP Securities reissued a "market perform" rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com raised shares of HashiCorp from a "hold" rating to a "buy" rating in a research note on Monday. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, HashiCorp currently has a consensus rating of "Hold" and an average price target of $32.08.

HashiCorp Stock Performance

HCP stock traded down $0.03 during midday trading on Monday, hitting $34.28. 1,603,096 shares of the company's stock were exchanged, compared to its average volume of 2,853,885. HashiCorp, Inc. has a one year low of $20.89 and a one year high of $34.46. The company has a market cap of $7.01 billion, a PE ratio of -56.20 and a beta of 1.18. The stock's fifty day moving average price is $33.97 and its 200-day moving average price is $33.83.

Insider Activity

In other news, CEO David Mcjannet sold 47,526 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the sale, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Monday, November 4th. The shares were sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,467,200. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,940 shares of company stock worth $7,088,351 in the last 90 days. Corporate insiders own 22.49% of the company's stock.

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.