K2 Principal Fund L.P. Has $3.99 Million Holdings in HashiCorp, Inc. (NASDAQ:HCP)

K2 Principal Fund L.P. lifted its position in shares of HashiCorp, Inc. (NASDAQ:HCP) by 34.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,951 shares of the company’s stock after acquiring an additional 29,901 shares during the quarter. K2 Principal Fund L.P.’s holdings in HashiCorp were worth $3,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of 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 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 worth $121,000 after purchasing an additional 731 shares in the last quarter. Victory Capital Management Inc. lifted its stake 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 buying an additional 873 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of HashiCorp by 3.5% during the 2nd quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock worth $1,075,000 after buying an additional 1,065 shares in the last quarter. Institutional investors own 87.83% of the company’s stock.

Insider Buying and Selling

In other HashiCorp news, CTO Armon Dadgar sold 22,779 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $770,841.36. Following the completion of the sale, the chief technology officer now directly owns 44,934 shares in the company, valued at approximately $1,520,566.56. This trade represents a 33.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Mcjannet sold 48,055 shares of the firm’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 sale, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at $14,196,929.04. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 366,207 shares of company stock valued at $12,382,858 over the last ninety days. Company insiders own 22.49% of the company’s stock.

Wall Street Analyst Weigh In

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

HashiCorp Stock Up 0.4 %

NASDAQ:HCP opened at $33.78 on Friday. HashiCorp, Inc. has a twelve month low of $19.26 and a twelve month high of $34.21. The stock has a market cap of $6.85 billion, a P/E ratio of -55.38 and a beta of 1.21. The firm’s fifty day simple moving average is $33.83 and its 200 day simple moving average is $33.73.

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.