Hsbc Holdings PLC Acquires New Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Hsbc Holdings PLC bought a new stake in HashiCorp, Inc. (NASDAQ:HCP) in the second quarter, Holdings Channel reports. The fund bought 801,122 shares of the company’s stock, valued at approximately $26,998,000.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in HashiCorp in the second quarter worth approximately $208,000. Renaissance Technologies LLC raised its stake in shares of HashiCorp by 60.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,071,800 shares of the company’s stock worth $36,109,000 after buying an additional 402,800 shares in the last quarter. Alpine Associates Management Inc. acquired a new stake in shares of HashiCorp in the second quarter valued at $48,541,000. American Century Companies Inc. bought a new position in HashiCorp during the second quarter valued at about $283,000. Finally, EDBI Pte Ltd acquired a new position in HashiCorp during the second quarter worth about $219,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

HashiCorp Trading Down 0.1 %

Shares of HCP stock opened at $33.89 on Friday. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of -35.30 and a beta of 1.25. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $34.06. The stock’s fifty day simple moving average is $33.73 and its 200-day simple moving average is $31.70.

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

Insiders Place Their Bets

In other news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the transaction, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at $147,638.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction that occurred on 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 owns 4,368 shares of the company’s stock, valued at approximately $147,638.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total value of $1,214,632.32. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,421,600. 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 quarter. 22.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HCP has been the subject of a number of research analyst reports. StockNews.com started coverage on shares of HashiCorp in a report on Wednesday. They issued a “hold” rating for the company. Citigroup initiated coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. Piper Sandler restated a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.