Sycomore Asset Management Grows Position in HashiCorp, Inc. (NASDAQ:HCP)

Sycomore Asset Management increased its holdings in HashiCorp, Inc. (NASDAQ:HCP) by 104.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 202,639 shares of the company’s stock after acquiring an additional 103,639 shares during the quarter. HashiCorp makes up about 1.1% of Sycomore Asset Management’s investment portfolio, making the stock its 29th largest position. Sycomore Asset Management owned approximately 0.10% of HashiCorp worth $4,965,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in HCP. Ronald Blue Trust Inc. lifted its stake in HashiCorp by 327.8% in the third quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock worth $47,000 after acquiring an additional 1,570 shares during the period. SG Americas Securities LLC lifted its position in shares of HashiCorp by 47.6% during the third quarter. SG Americas Securities LLC now owns 39,928 shares of the company’s stock valued at $912,000 after buying an additional 12,884 shares during the last quarter. Peregrine Capital Management LLC lifted its position in shares of HashiCorp by 3.5% during the third quarter. Peregrine Capital Management LLC now owns 303,525 shares of the company’s stock valued at $6,929,000 after buying an additional 10,322 shares during the last quarter. Xponance Inc. lifted its position in shares of HashiCorp by 6.7% during the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after buying an additional 673 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of HashiCorp by 10.5% during the third quarter. Bank of New York Mellon Corp now owns 337,516 shares of the company’s stock valued at $7,705,000 after buying an additional 32,006 shares during the last quarter. 87.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at HashiCorp

In other news, CFO Navam Welihinda sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total transaction of $54,600.00. Following the sale, the chief financial officer now owns 62,844 shares of the company’s stock, valued at approximately $1,372,512.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $24.31, for a total value of $872,826.24. Following the transaction, the chief technology officer now owns 1,625,260 shares in the company, valued at approximately $39,510,070.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Navam Welihinda sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total value of $54,600.00. Following the completion of the transaction, the chief financial officer now owns 62,844 shares in the company, valued at approximately $1,372,512.96. The disclosure for this sale can be found here. Insiders have sold 263,077 shares of company stock valued at $6,597,742 in the last 90 days. 26.13% of the stock is currently owned by company insiders.

HashiCorp Price Performance

NASDAQ:HCP traded up $2.26 during midday trading on Wednesday, hitting $31.41. The company’s stock had a trading volume of 22,745,055 shares, compared to its average volume of 2,721,235. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $36.39. The firm’s 50 day moving average is $25.73 and its 200-day moving average is $23.30. The firm has a market cap of $6.27 billion, a P/E ratio of -32.05 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. The business had revenue of $155.78 million for the quarter, compared to analysts’ expectations of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. As a group, analysts forecast that HashiCorp, Inc. will post -0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. KeyCorp assumed coverage on shares of HashiCorp in a research report on Tuesday, March 19th. They set a “sector weight” rating for the company. Citigroup increased their price target on shares of HashiCorp from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 22nd. Oppenheimer reissued an “outperform” rating and set a $34.00 price target on shares of HashiCorp in a research report on Wednesday, March 6th. Bank of America upped their price objective on shares of HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, TD Cowen upped their price objective on shares of HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.08.

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.