HashiCorp, Inc. (NASDAQ:HCP) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. lowered its holdings in HashiCorp, Inc. (NASDAQ:HCP) by 22.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 635,101 shares of the company’s stock after selling 180,240 shares during the period. HashiCorp comprises 0.9% of Elite Wealth Management Inc.’s holdings, making the stock its 6th biggest holding. Elite Wealth Management Inc. owned about 0.32% of HashiCorp worth $15,014,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of HashiCorp in the 3rd quarter valued at $309,000. Qsemble Capital Management LP acquired a new position in shares of HashiCorp in the third quarter worth about $1,119,000. Stanley Laman Group Ltd. raised its holdings in shares of HashiCorp by 60.3% during the third quarter. Stanley Laman Group Ltd. now owns 440,063 shares of the company’s stock valued at $10,047,000 after acquiring an additional 165,474 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of HashiCorp in the 4th quarter valued at approximately $7,124,000. Finally, Vanguard Group Inc. lifted its position in shares of HashiCorp by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after acquiring an additional 455,179 shares in the last quarter. 87.83% of the stock is currently owned by institutional investors.

HashiCorp Stock Up 0.4 %

Shares of HCP traded up $0.09 during mid-day trading on Wednesday, hitting $23.75. 436,672 shares of the company’s stock were exchanged, compared to its average volume of 2,305,051. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of -24.14 and a beta of 1.42. The firm has a fifty day moving average of $25.49 and a two-hundred day moving average of $23.17. HashiCorp, Inc. has a twelve month low of $18.91 and a twelve month high of $36.39.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Piper Sandler reiterated a “neutral” rating and set a $25.00 price objective (up from $22.00) on shares of HashiCorp in a research report on Wednesday, March 6th. Citigroup upped their price target on HashiCorp from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 22nd. Oppenheimer restated an “outperform” rating and set a $34.00 price objective on shares of HashiCorp in a research report on Wednesday, March 6th. JMP Securities reiterated a “market outperform” rating and issued a $38.00 target price on shares of HashiCorp in a report on Thursday, March 7th. Finally, BTIG Research increased their price target on shares of HashiCorp from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.77.

Insider Activity at HashiCorp

In related news, CEO David Mcjannet sold 33,331 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.38, for a total value of $912,602.78. Following the transaction, the chief executive officer now directly owns 326,912 shares in the company, valued at approximately $8,950,850.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other HashiCorp news, CEO David Mcjannet sold 33,331 shares of HashiCorp stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $27.38, for a total value of $912,602.78. Following the transaction, the chief executive officer now directly owns 326,912 shares of the company’s stock, valued at approximately $8,950,850.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $21.94, for a total value of $787,733.76. Following the completion of the sale, the chief technology officer now directly owns 1,840,684 shares of the company’s stock, valued at $40,384,606.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 262,577 shares of company stock valued at $6,484,004. 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.