State of New Jersey Common Pension Fund D Sells 54,984 Shares of HashiCorp, Inc. (NASDAQ:HCP)

State of New Jersey Common Pension Fund D trimmed its stake in HashiCorp, Inc. (NASDAQ:HCP) by 49.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,568 shares of the company’s stock after selling 54,984 shares during the period. State of New Jersey Common Pension Fund D’s holdings in HashiCorp were worth $1,872,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. American Capital Advisory LLC acquired a new position in HashiCorp during the 2nd quarter valued at about $40,000. Advisors Asset Management Inc. increased its position in HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares in the last quarter. Covestor Ltd increased its position in HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after buying an additional 3,480 shares in the last quarter. Quest Partners LLC increased its position in HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares in the last quarter. Finally, EDBI Pte Ltd acquired a new position in HashiCorp during the 2nd quarter valued at about $219,000. 87.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CMO Marc Holmes sold 13,916 shares of the company’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 transaction, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at approximately $147,638.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other HashiCorp news, insider Ledger Susan St. sold 3,264 shares of the stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of the stock in a transaction that occurred 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 approximately $147,638.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 234,532 shares of company stock valued at $7,901,335. 22.49% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HCP. Citigroup began coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. Finally, StockNews.com assumed coverage on HashiCorp in a research note on Wednesday, September 18th. They set a “hold” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Down 0.1 %

Shares of HCP opened at $33.89 on Monday. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $34.06. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of -35.30 and a beta of 1.25. The stock’s 50-day moving average price is $33.73 and its 200-day moving average price is $31.73.

HashiCorp (NASDAQ:HCP) last released its quarterly 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 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%. HashiCorp’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.34) EPS. As a group, equities analysts anticipate that HashiCorp, Inc. will post -0.59 EPS for the current fiscal year.

About HashiCorp

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.