Absolute Gestao de Investimentos Ltda. Makes New Investment in HashiCorp, Inc. (NASDAQ:HCP)

Absolute Gestao de Investimentos Ltda. bought a new position in HashiCorp, Inc. (NASDAQ:HCP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $3,369,000. HashiCorp accounts for about 1.7% of Absolute Gestao de Investimentos Ltda.’s holdings, making the stock its 15th biggest holding.

Several other institutional investors also recently modified their holdings of HCP. American Capital Advisory LLC purchased a new position in HashiCorp during the second quarter valued at $40,000. Advisors Asset Management Inc. raised its position in shares of HashiCorp by 43.0% in the 1st 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 last quarter. Covestor Ltd raised its position in shares of HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after purchasing an additional 3,480 shares during the last quarter. Quest Partners LLC boosted its stake in HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after purchasing an additional 3,505 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in HashiCorp during the 2nd quarter valued at about $208,000. 87.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CMO Marc Holmes sold 11,854 shares of HashiCorp stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $401,139.36. Following the sale, the chief marketing officer now owns 22,536 shares in the company, valued at $762,618.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the transaction, the chief executive officer now owns 419,531 shares in the company, valued at approximately $14,196,929.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Marc Holmes sold 11,854 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $401,139.36. Following the sale, the chief marketing officer now directly owns 22,536 shares in the company, valued at $762,618.24. The disclosure for this sale can be found here. Insiders sold 354,355 shares of company stock worth $11,957,418 in the last three months. 22.49% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

HashiCorp Stock Performance

Shares of HCP stock opened at $33.83 on Wednesday. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $34.06. The company’s fifty day moving average price is $33.74 and its 200-day moving average price is $31.84.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The business had revenue of $165.14 million for 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 quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the firm earned ($0.34) earnings per share. Equities research analysts predict that HashiCorp, Inc. will post -0.48 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.