HashiCorp, Inc. (NASDAQ:HCP) Shares Bought by Sycomore Asset Management

Sycomore Asset Management lifted its position in HashiCorp, Inc. (NASDAQ:HCP) by 104.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 202,639 shares of the company’s stock after acquiring an additional 103,639 shares during the period. HashiCorp makes up 1.1% of Sycomore Asset Management’s investment portfolio, making the stock its 29th largest position. Sycomore Asset Management’s holdings in HashiCorp were worth $4,965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Ronald Blue Trust Inc. boosted its position in HashiCorp by 327.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock valued at $47,000 after purchasing an additional 1,570 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in HashiCorp by 35.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after purchasing an additional 615 shares during the period. Victory Capital Management Inc. boosted its position in HashiCorp by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after purchasing an additional 2,768 shares during the period. Xponance Inc. boosted its position in HashiCorp by 6.7% during the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after purchasing an additional 673 shares during the period. Finally, Principal Financial Group Inc. boosted its position in HashiCorp by 10.0% during the 3rd quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock valued at $246,000 after purchasing an additional 978 shares during the period. Institutional investors and hedge funds own 87.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HCP shares. Oppenheimer restated an “outperform” rating and set a $34.00 price objective on shares of HashiCorp in a research report on Wednesday, March 6th. Piper Sandler reiterated a “neutral” rating and set a $25.00 price target (up previously from $22.00) on shares of HashiCorp in a research report on Wednesday, March 6th. KeyCorp began coverage on HashiCorp in a research report on Tuesday, March 19th. They set a “sector weight” rating for the company. Bank of America boosted their price target on HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Stifel Nicolaus boosted their price target on HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, HashiCorp presently has an average rating of “Moderate Buy” and a consensus target price of $29.08.

Insider Transactions at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $23.02, for a total transaction of $826,510.08. Following the sale, the chief technology officer now directly owns 1,804,780 shares of the company’s stock, valued at $41,546,035.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the chief financial officer now directly owns 62,844 shares of the company’s stock, valued at $1,571,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $23.02, for a total value of $826,510.08. Following the transaction, the chief technology officer now directly owns 1,804,780 shares in the company, valued at $41,546,035.60. The disclosure for this sale can be found here. Insiders have sold 263,077 shares of company stock valued at $6,597,742 over the last three months. Company insiders own 26.13% of the company’s stock.

HashiCorp Price Performance

Shares of HCP traded up $2.26 during midday trading on Wednesday, reaching $31.41. The stock had a trading volume of 22,745,055 shares, compared to its average volume of 2,721,235. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $36.39. The firm’s 50 day moving average price is $25.73 and its 200-day moving average price is $23.30. The company has a market capitalization of $6.27 billion, a P/E ratio of -32.05 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. The company had revenue of $155.78 million for the quarter, compared to the consensus estimate of $149.47 million. On average, equities analysts forecast that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

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.