HashiCorp, Inc. (NASDAQ:HCP) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 70.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,037 shares of the company's stock after selling 21,344 shares during the quarter. The Manufacturers Life Insurance Company's holdings in HashiCorp were worth $306,000 as of its most recent SEC filing.

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

HashiCorp Price Performance

NASDAQ HCP traded up $0.06 during trading hours on Monday, hitting $33.84. 2,080,915 shares of the company's stock traded hands, compared to its average volume of 2,939,134. The firm's 50-day moving average is $33.81 and its 200-day moving average is $33.74. HashiCorp, Inc. has a 52-week low of $20.89 and a 52-week high of $34.21. The company has a market capitalization of $6.92 billion, a PE ratio of -55.39 and a beta of 1.21.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HCP. Citigroup assumed coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a "neutral" rating and a $35.00 price objective for the company. StockNews.com assumed coverage on HashiCorp in a report on Wednesday, December 11th. They issued a "hold" rating for the company. JMP Securities reissued a "market perform" rating on shares of HashiCorp in a report on Monday. Finally, Piper Sandler restated a "neutral" rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $32.08.

Insider Activity

In other news, CMO Marc Holmes sold 11,854 shares of HashiCorp 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 $401,139.36. Following the sale, the chief marketing officer now owns 22,536 shares of the company's stock, valued at approximately $762,618.24. The trade was a 34.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Navam Welihinda sold 18,167 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $614,771.28. Following the completion of the transaction, the chief financial officer now owns 105,883 shares of the company's stock, valued at $3,583,080.72. The trade was a 14.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 352,291 shares of company stock worth $11,912,497 over the last ninety 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.