Centiva Capital LP Decreases Stake in HashiCorp, Inc. (NASDAQ:HCP)

Centiva Capital LP cut its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 26.1% during the third quarter, HoldingsChannel.com reports. The firm owned 276,131 shares of the company’s stock after selling 97,533 shares during the period. HashiCorp accounts for about 0.2% of Centiva Capital LP’s portfolio, making the stock its 29th largest position. Centiva Capital LP’s holdings in HashiCorp were worth $9,350,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. New York Life Investment Management LLC acquired a new position in HashiCorp during the second quarter worth $11,407,000. K2 Principal Fund L.P. acquired a new stake in HashiCorp in the second quarter valued at $2,966,000. Alpine Associates Management Inc. increased its position in shares of HashiCorp by 48.7% in the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after buying an additional 701,350 shares in the last quarter. Versor Investments LP raised its stake in shares of HashiCorp by 518.9% during the 3rd quarter. Versor Investments LP now owns 157,725 shares of the company’s stock worth $5,341,000 after buying an additional 132,239 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of HashiCorp in the 2nd quarter worth about $857,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Insider Transactions at HashiCorp

In related news, CEO David Mcjannet sold 48,055 shares of the company’s 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 $1,626,181.20. Following the completion of the transaction, the chief executive officer now owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. This represents a 10.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Marc Holmes sold 11,854 shares of HashiCorp stock in a transaction 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 completion of the transaction, the chief marketing officer now owns 22,536 shares in the company, valued at approximately $762,618.24. This trade represents a 34.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 366,208 shares of company stock worth $12,391,868 in the last three months. Company insiders own 22.49% of the company’s stock.

HashiCorp Stock Up 0.1 %

HCP stock opened at $33.62 on Monday. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -44.83 and a beta of 1.24. HashiCorp, Inc. has a 52-week low of $19.26 and a 52-week high of $34.21. The stock’s fifty day simple moving average is $33.85 and its 200-day simple moving average is $33.71.

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

Analyst Upgrades and Downgrades

HCP has been the subject of several recent research reports. Citigroup started coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. Piper Sandler reiterated a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. StockNews.com assumed coverage on HashiCorp in a research report on Friday. They set a “hold” rating for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, HashiCorp has a consensus rating of “Hold” and a consensus price target of $32.08.

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.