Birnam Oak Advisors LP Purchases Shares of 359,000 HashiCorp, Inc. (NASDAQ:HCP)

Birnam Oak Advisors LP bought a new position in shares of HashiCorp, Inc. (NASDAQ:HCP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 359,000 shares of the company’s stock, valued at approximately $12,281,000. HashiCorp makes up about 6.0% of Birnam Oak Advisors LP’s holdings, making the stock its 7th biggest holding.

Other hedge funds have also recently modified their holdings of the company. Westchester Capital Management LLC raised its holdings in shares of HashiCorp by 60.5% in the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock worth $108,363,000 after purchasing an additional 1,206,073 shares during the period. Melqart Asset Management UK Ltd bought a new stake in shares of HashiCorp in the 3rd quarter worth approximately $28,224,000. Alpine Associates Management Inc. raised its holdings in shares of HashiCorp by 48.7% in the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after purchasing an additional 701,350 shares during the period. SG Americas Securities LLC raised its holdings in shares of HashiCorp by 1,512.2% in the 4th quarter. SG Americas Securities LLC now owns 720,930 shares of the company’s stock worth $24,663,000 after purchasing an additional 676,212 shares during the period. Finally, Polar Asset Management Partners Inc. raised its holdings in shares of HashiCorp by 144.4% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 1,100,000 shares of the company’s stock worth $37,246,000 after purchasing an additional 650,000 shares during the period. Institutional investors own 86.25% of the company’s stock.

Insider Activity

In related 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 completion of the transaction, the chief technology officer now directly owns 31,348 shares in the company, valued at approximately $1,073,042.04. The trade was a 36.22 % decrease in their ownership of the stock. The sale 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 company’s stock in a transaction 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 transaction, 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. Company insiders own 22.49% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on HCP. StockNews.com raised shares of HashiCorp from a “hold” rating to a “buy” rating in a report on Monday, January 13th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $34.40.

HashiCorp Price Performance

HCP opened at $34.78 on Tuesday. The company has a fifty day moving average price of $34.44 and a 200-day moving average price of $34.08. The firm has a market capitalization of $7.11 billion, a P/E ratio of -57.02 and a beta of 1.18. HashiCorp, Inc. has a one year low of $23.00 and a one year high of $34.85.

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.