DSC Meridian Capital LP Raises Stock Position in HashiCorp, Inc. (NASDAQ:HCP)

DSC Meridian Capital LP increased its position in HashiCorp, Inc. (NASDAQ:HCP) by 33.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,790 shares of the company’s stock after purchasing an additional 82,132 shares during the period. HashiCorp makes up 4.2% of DSC Meridian Capital LP’s investment portfolio, making the stock its 6th largest holding. DSC Meridian Capital LP’s holdings in HashiCorp were worth $11,214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of HCP. Westchester Capital Management LLC lifted its holdings 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. Geode Capital Management LLC increased its position in shares of HashiCorp by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after purchasing an additional 385,118 shares during the last quarter. Alpine Associates Management Inc. raised its stake in shares of HashiCorp by 11.8% during the 4th quarter. Alpine Associates Management Inc. now owns 2,394,854 shares of the company’s stock worth $81,928,000 after purchasing an additional 252,700 shares during the period. State Street Corp raised its position in HashiCorp by 14.5% in the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after acquiring an additional 282,965 shares during the period. Finally, ING Groep NV boosted its stake in HashiCorp by 851.2% in the third 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 last quarter. 86.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at HashiCorp

In other news, CTO Armon Dadgar sold 17,800 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total value of $609,294.00. Following the sale, the chief technology officer now directly owns 31,348 shares of the company’s stock, valued at $1,073,042.04. This represents a 36.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Mcjannet sold 47,526 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the transaction, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.49% of the company’s stock.

HashiCorp Stock Performance

HCP stock opened at $34.78 on Wednesday. The company has a market capitalization of $7.11 billion, a PE ratio of -57.02 and a beta of 1.18. The company’s fifty day moving average price is $34.40 and its 200-day moving average price is $34.06. HashiCorp, Inc. has a one year low of $23.00 and a one year high of $34.85.

Analysts Set New Price Targets

Several analysts have issued reports on HCP shares. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $34.40.

HashiCorp Company 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.