HashiCorp, Inc. (NASDAQ:HCP) Shares Acquired by Glynn Capital Management LLC

Glynn Capital Management LLC lifted its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 596,000 shares of the company’s stock after acquiring an additional 60,562 shares during the period. HashiCorp accounts for about 2.6% of Glynn Capital Management LLC’s holdings, making the stock its 15th biggest position. Glynn Capital Management LLC owned approximately 0.30% of HashiCorp worth $14,089,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its stake in HashiCorp by 35.4% in the third 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. increased its position in HashiCorp by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after acquiring an additional 2,768 shares during the period. Xponance Inc. raised its stake 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 acquiring an additional 673 shares during the last quarter. Principal Financial Group Inc. lifted 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 worth $246,000 after acquiring an additional 978 shares during the period. Finally, Mirabella Financial Services LLP purchased a new position in shares of HashiCorp in the 3rd quarter valued at approximately $269,000. 87.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Scotiabank restated a “sector perform” rating and set a $35.00 price target (up previously from $31.00) on shares of HashiCorp in a research note on Thursday, April 25th. William Blair downgraded shares of HashiCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 24th. TD Cowen lifted their target price on shares of HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. StockNews.com upgraded shares of HashiCorp from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. Finally, Morgan Stanley raised HashiCorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $23.00 to $30.00 in a research note on Monday, February 26th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.77.

HashiCorp Price Performance

HCP stock traded up $0.11 during trading on Wednesday, reaching $32.57. 3,351,324 shares of the stock traded hands, compared to its average volume of 3,490,752. The firm has a market capitalization of $6.50 billion, a PE ratio of -33.22 and a beta of 1.42. The business’s 50 day moving average price is $26.45 and its 200-day moving average price is $23.62. HashiCorp, Inc. has a 52-week low of $18.91 and a 52-week high of $36.39.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. On average, equities research analysts predict that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Navam Welihinda sold 3,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $27.84, for a total value of $83,520.00. Following the completion of the transaction, the chief financial officer now directly owns 93,925 shares in the company, valued at $2,614,872. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Navam Welihinda sold 3,000 shares of HashiCorp stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $27.84, for a total transaction of $83,520.00. Following the sale, the chief financial officer now directly owns 93,925 shares of the company’s stock, valued at $2,614,872. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $21.82, for a total value of $783,425.28. Following the sale, the chief technology officer now owns 1,768,876 shares of the company’s stock, valued at approximately $38,596,874.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 267,427 shares of company stock valued at $6,728,242. Corporate insiders own 26.13% of the company’s stock.

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.