Bardin Hill Management Partners LP Buys New Stake in HashiCorp, Inc. (NASDAQ:HCP)

Bardin Hill Management Partners LP purchased a new stake in shares of HashiCorp, Inc. (NASDAQ:HCP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 440,278 shares of the company’s stock, valued at approximately $14,908,000. HashiCorp accounts for 6.9% of Bardin Hill Management Partners LP’s holdings, making the stock its 3rd biggest position. Bardin Hill Management Partners LP owned approximately 0.22% of HashiCorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HCP. Pentwater Capital Management LP acquired a new stake in HashiCorp in the second quarter valued at approximately $91,654,000. Magnetar Financial LLC purchased a new position in shares of HashiCorp during the 2nd quarter valued at approximately $71,490,000. ING Groep NV grew its stake in HashiCorp by 851.2% in the 3rd quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock valued at $56,587,000 after acquiring an additional 1,495,500 shares during the period. Alpine Associates Management Inc. purchased a new stake in HashiCorp in the 2nd quarter worth $48,541,000. Finally, Westchester Capital Management LLC raised its position in 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 acquiring an additional 1,206,073 shares during the period. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Insider Activity at HashiCorp

In related news, insider Ledger Susan St. sold 22,232 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $752,330.88. Following the sale, the insider now directly owns 167,747 shares in the company, valued at approximately $5,676,558.48. The trade was a 11.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Armon Dadgar sold 35,903 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $33.90, for a total transaction of $1,217,111.70. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,528,000. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 366,208 shares of company stock worth $12,391,868. Insiders own 22.49% of the company’s stock.

HashiCorp Trading Up 0.1 %

Shares of HCP opened at $33.62 on Monday. HashiCorp, Inc. has a 12-month low of $19.26 and a 12-month high of $34.21. The firm has a market capitalization of $6.82 billion, a P/E ratio of -44.83 and a beta of 1.24. The firm has a 50-day moving average price of $33.85 and a 200 day moving average price of $33.71.

HashiCorp (NASDAQ:HCP) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.34) EPS. Equities research analysts predict that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HCP shares. StockNews.com started coverage on shares of HashiCorp in a research note on Friday. They issued a “hold” rating on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, Citigroup began coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.08.

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.