HashiCorp, Inc. (NASDAQ:HCP) Shares Sold by Ieq Capital LLC

Ieq Capital LLC reduced its holdings in HashiCorp, Inc. (NASDAQ:HCP) by 28.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 714,723 shares of the company’s stock after selling 288,135 shares during the quarter. Ieq Capital LLC owned 0.36% of HashiCorp worth $24,079,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of HashiCorp by 11.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after purchasing an additional 63,879 shares during the period. Swiss National Bank increased its position in shares of HashiCorp by 11.8% during the 1st quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after purchasing an additional 23,400 shares during the period. Contour Asset Management LLC acquired a new position in shares of HashiCorp during the 4th quarter valued at $21,217,000. GGV Capital LLC increased its position in shares of HashiCorp by 4.6% during the 4th quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock valued at $15,579,000 after purchasing an additional 29,064 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of HashiCorp during the 4th quarter valued at $3,158,000. 87.83% of the stock is currently owned by institutional investors and hedge funds.

HashiCorp Stock Up 0.1 %

Shares of HashiCorp stock opened at $33.94 on Friday. The stock has a market cap of $6.82 billion, a PE ratio of -35.35 and a beta of 1.25. The business has a fifty day simple moving average of $33.73 and a 200-day simple moving average of $31.59. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $34.06.

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

Wall Street Analysts Forecast Growth

HCP has been the topic of several research analyst reports. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. StockNews.com began coverage on HashiCorp in a report on Wednesday. They issued a “hold” rating on the stock. JMP Securities restated 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 issued a “neutral” rating and a $35.00 target price on the stock. 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, HashiCorp currently has an average rating of “Hold” and an average price target of $32.08.

Insider Activity at HashiCorp

In related news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $33.64, for a total transaction of $1,207,810.56. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,132,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $33.64, for a total value of $1,207,810.56. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,132,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the sale, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $147,638.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 286,794 shares of company stock valued at $9,650,892. Insiders own 22.49% of the company’s stock.

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.