Quest Partners LLC Buys 2,296 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Quest Partners LLC grew its stake in HashiCorp, Inc. (NASDAQ:HCP) by 64.8% in the third quarter, HoldingsChannel.com reports. The fund owned 5,837 shares of the company’s stock after acquiring an additional 2,296 shares during the period. Quest Partners LLC’s holdings in HashiCorp were worth $198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HCP. Advisors Asset Management Inc. grew its holdings in HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after purchasing an additional 961 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in HashiCorp in the 1st quarter valued at approximately $378,000. Jacobs Levy Equity Management Inc. acquired a new position in HashiCorp during the first quarter worth $1,070,000. California State Teachers Retirement System lifted its position in HashiCorp by 5.1% during the 1st quarter. California State Teachers Retirement System now owns 111,076 shares of the company’s stock worth $2,993,000 after buying an additional 5,372 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of HashiCorp by 2.1% during the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after buying an additional 374 shares during the last quarter. 87.83% of the stock is owned by institutional investors.

HashiCorp Trading Down 0.6 %

Shares of HashiCorp stock opened at $33.58 on Thursday. The company has a market cap of $6.81 billion, a PE ratio of -44.77 and a beta of 1.24. The company has a 50 day moving average of $33.86 and a 200-day moving average of $33.70. HashiCorp, Inc. has a 1-year low of $19.26 and a 1-year high of $34.21.

HashiCorp (NASDAQ:HCP) last released its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. During the same period in the prior year, the company earned ($0.34) earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. Research analysts forecast that HashiCorp, Inc. will post -0.48 earnings per share for the current year.

Insider Transactions at HashiCorp

In related news, CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $33.90, for a total transaction of $1,217,111.70. Following the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,528,000. The trade was a 2.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Marc Holmes sold 13,782 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total transaction of $465,969.42. Following the transaction, the chief marketing officer now owns 8,754 shares of the company’s stock, valued at approximately $295,972.74. This represents a 61.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 366,208 shares of company stock valued at $12,391,868. Corporate insiders own 22.49% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on HCP shares. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Finally, StockNews.com began coverage on shares of HashiCorp in a report on Saturday, November 23rd. They set a “hold” rating on the stock. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, HashiCorp currently has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp 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.