Syquant Capital Sas Invests $18.55 Million in HashiCorp, Inc. (NASDAQ:HCP)

Syquant Capital Sas purchased a new position in shares of HashiCorp, Inc. (NASDAQ:HCP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 542,344 shares of the company’s stock, valued at approximately $18,554,000. HashiCorp accounts for approximately 26.3% of Syquant Capital Sas’ investment portfolio, making the stock its 2nd largest holding.

Several other hedge funds also recently added to or reduced their stakes in HCP. Westchester Capital Management LLC boosted its position in shares of HashiCorp by 60.5% during the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock valued at $108,363,000 after buying an additional 1,206,073 shares during the period. Geode Capital Management LLC increased its stake in HashiCorp by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after purchasing an additional 385,118 shares during the period. State Street Corp lifted its position in shares of HashiCorp by 14.5% during the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after purchasing an additional 282,965 shares during the last quarter. Alpine Associates Management Inc. boosted its stake in shares of HashiCorp by 48.7% during the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after purchasing an additional 701,350 shares during the period. Finally, Magnetar Financial LLC bought a new position in shares of HashiCorp in the second quarter worth about $71,490,000. 86.25% of the stock is currently owned by institutional investors.

HashiCorp Price Performance

Shares of HCP remained flat at $34.31 during trading hours on Monday. The stock had a trading volume of 288,641 shares, compared to its average volume of 2,657,186. The company has a market cap of $7.01 billion, a P/E ratio of -56.24 and a beta of 1.18. HashiCorp, Inc. has a 52-week low of $20.89 and a 52-week high of $34.46. The business’s 50 day moving average price is $33.96 and its two-hundred day moving average price is $33.83.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HCP. StockNews.com initiated coverage on shares of HashiCorp in a report on Sunday, December 29th. They set a “hold” rating for the company. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, HashiCorp currently has an average rating of “Hold” and a consensus price target of $32.08.

Insider Buying and Selling at HashiCorp

In other news, CTO Armon Dadgar sold 17,800 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the transaction, the chief technology officer now owns 31,348 shares in the company, valued at $1,073,042.04. This represents a 36.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at $15,945,767.16. This trade represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,940 shares of company stock worth $7,088,351 over the last quarter. Insiders own 22.49% of the company’s stock.

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.