Industry Ventures L.L.C. Acquires Shares of 6,626 HashiCorp, Inc. (NASDAQ:HCP)

Industry Ventures L.L.C. acquired a new stake in shares of HashiCorp, Inc. (NASDAQ:HCP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,626 shares of the company’s stock, valued at approximately $157,000. HashiCorp makes up about 0.3% of Industry Ventures L.L.C.’s investment portfolio, making the stock its 7th largest position.

Several other institutional investors also recently bought and sold shares of HCP. Vanguard Group Inc. increased its position in shares of HashiCorp by 4.9% during the third quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock worth $221,976,000 after purchasing an additional 455,179 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in HashiCorp in the third quarter valued at about $55,774,000. Federated Hermes Inc. boosted its holdings in HashiCorp by 16.2% in the fourth quarter. Federated Hermes Inc. now owns 2,112,284 shares of the company’s stock worth $49,934,000 after acquiring an additional 294,484 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of HashiCorp by 6.3% during the third quarter. Wellington Management Group LLP now owns 1,983,301 shares of the company’s stock worth $45,279,000 after acquiring an additional 117,625 shares during the last quarter. Finally, Atreides Management LP acquired a new position in shares of HashiCorp during the third quarter valued at about $31,413,000. 87.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the chief financial officer now owns 62,844 shares of the company’s stock, valued at approximately $1,571,100. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the chief financial officer now owns 62,844 shares in the company, valued at $1,571,100. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $24.99, for a total transaction of $347,760.84. The disclosure for this sale can be found here. Insiders have sold a total of 267,427 shares of company stock valued at $7,076,511 in the last 90 days. 26.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on HCP. Stifel Nicolaus raised their price target on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Morgan Stanley raised HashiCorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $23.00 to $30.00 in a research report on Monday, February 26th. Oppenheimer reissued an “outperform” rating and issued a $34.00 price objective on shares of HashiCorp in a report on Wednesday, March 6th. KeyCorp began coverage on HashiCorp in a report on Tuesday, March 19th. They set a “sector weight” rating for the company. Finally, Truist Financial reissued a “hold” rating and set a $35.00 price target (up from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.77.

HashiCorp Price Performance

HCP stock traded up $0.01 during mid-day trading on Wednesday, reaching $32.81. 3,778,934 shares of the company’s stock were exchanged, compared to its average volume of 3,616,487. The stock’s 50 day moving average is $27.50 and its 200 day moving average is $24.09. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $36.39. The company has a market cap of $6.55 billion, a price-to-earnings ratio of -33.48 and a beta of 1.25.

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

HashiCorp 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.