SVB Wealth LLC Buys New Position in HashiCorp, Inc. (NASDAQ:HCP)

SVB Wealth LLC purchased a new position in shares of HashiCorp, Inc. (NASDAQ:HCP) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 11,078 shares of the company’s stock, valued at approximately $379,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Carlson Capital L.P. acquired a new position in HashiCorp in the 4th quarter worth $2,077,000. Elite Wealth Management Inc. increased its position in shares of HashiCorp by 9.1% during the fourth quarter. Elite Wealth Management Inc. now owns 80,405 shares of the company’s stock worth $2,751,000 after acquiring an additional 6,731 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of HashiCorp by 49.6% in the fourth quarter. Handelsbanken Fonder AB now owns 36,200 shares of the company’s stock worth $1,238,000 after acquiring an additional 12,000 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in HashiCorp by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 11,913 shares of the company’s stock valued at $408,000 after purchasing an additional 397 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in HashiCorp by 6.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 62,456 shares of the company’s stock valued at $2,137,000 after purchasing an additional 3,770 shares in the last quarter. Hedge funds and other institutional investors own 86.25% of the company’s stock.

Insiders Place Their Bets

In other HashiCorp news, CEO David Mcjannet sold 47,526 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Armon Dadgar sold 17,800 shares of HashiCorp stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the completion of the sale, the chief technology officer now owns 31,348 shares in the company, valued at approximately $1,073,042.04. This represents a 36.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.49% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HCP has been the topic of a number of recent analyst reports. StockNews.com raised HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.50.

HashiCorp Stock Performance

HashiCorp stock opened at $34.78 on Wednesday. HashiCorp, Inc. has a 1 year low of $23.00 and a 1 year high of $34.85. The firm’s 50-day moving average is $34.34 and its 200-day moving average is $34.03. The company has a market cap of $7.11 billion, a P/E ratio of -57.02 and a beta of 1.18.

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.