LMR Partners LLP Has $26.66 Million Stock Position in HashiCorp, Inc. (NASDAQ:HCP)

LMR Partners LLP lessened its position in shares of HashiCorp, Inc. (NASDAQ:HCP) by 25.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 787,418 shares of the company’s stock after selling 267,398 shares during the quarter. LMR Partners LLP’s holdings in HashiCorp were worth $26,662,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HCP. Xponance Inc. grew its holdings in HashiCorp by 3.1% during the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after acquiring an additional 305 shares during the period. Comerica Bank grew its stake in shares of HashiCorp by 2.1% during the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after purchasing an additional 374 shares during the period. KBC Group NV increased its holdings in HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after purchasing an additional 731 shares during the last quarter. Victory Capital Management Inc. increased its holdings in HashiCorp by 4.8% in the third quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock valued at $646,000 after purchasing an additional 873 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares during the period. Institutional investors own 87.83% of the company’s stock.

Insider Activity

In related news, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total transaction of $169,350.00. Following the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. The trade was a 5.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Marc Holmes sold 13,916 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the sale, the chief marketing officer now owns 4,368 shares in the company, valued at approximately $147,638.40. This trade represents a 76.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 371,209 shares of company stock valued at $12,559,456. 22.49% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on HCP. StockNews.com assumed coverage on HashiCorp in a research report on Sunday. They set a “hold” rating for the company. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Citigroup initiated coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, Piper Sandler reissued a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, HashiCorp currently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Down 0.5 %

HCP stock opened at $33.74 on Monday. HashiCorp, Inc. has a twelve month low of $19.26 and a twelve month high of $34.21. The company has a market cap of $6.85 billion, a price-to-earnings ratio of -44.99 and a beta of 1.24. The business has a 50 day moving average price of $33.88 and a two-hundred day moving average price of $33.64.

HashiCorp (NASDAQ:HCP) last issued its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.34) earnings per share. On average, equities research analysts anticipate that HashiCorp, Inc. will post -0.48 EPS 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.