Highbridge Capital Management LLC Invests $21.23 Million in HashiCorp, Inc. (NASDAQ:HCP)

Highbridge Capital Management LLC bought a new stake in HashiCorp, Inc. (NASDAQ:HCP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 630,114 shares of the company’s stock, valued at approximately $21,229,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Capital Advisory LLC acquired a new stake in shares of HashiCorp in the second quarter valued at approximately $40,000. Advisors Asset Management Inc. boosted its position in HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after purchasing an additional 961 shares during the period. Covestor Ltd increased its holdings in shares of HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares during the last quarter. Quest Partners LLC lifted its stake in shares of HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of HashiCorp during the 2nd quarter worth about $208,000. 87.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler restated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. StockNews.com began coverage on HashiCorp in a report on Wednesday. They set a “hold” rating for the company. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday. Finally, Citigroup began coverage on HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Down 0.1 %

HCP stock opened at $33.92 on Thursday. The company’s 50-day moving average price is $33.72 and its two-hundred day moving average price is $31.57. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $34.06. The firm has a market cap of $6.82 billion, a P/E ratio of -35.33 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The business had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.34) earnings per share. Equities analysts predict that HashiCorp, Inc. will post -0.59 EPS for the current year.

Insider Buying and Selling

In other HashiCorp news, insider Ledger Susan St. sold 3,264 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $33.45, for a total transaction of $109,180.80. Following the completion of the transaction, the insider now owns 146,242 shares of the company’s stock, valued at $4,891,794.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other HashiCorp news, insider Ledger Susan St. sold 3,264 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $33.45, for a total transaction of $109,180.80. Following the sale, the insider now owns 146,242 shares of the company’s stock, valued at $4,891,794.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the transaction, the chief financial officer now owns 91,485 shares of the company’s stock, valued at $3,064,747.50. The disclosure for this sale can be found here. Insiders sold a total of 286,794 shares of company stock worth $9,650,892 in the last ninety days. 22.49% of the stock is owned by insiders.

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.