Murchinson Ltd. Makes New $3.37 Million Investment in HashiCorp, Inc. (NASDAQ:HCP)

Murchinson Ltd. acquired a new position in HashiCorp, Inc. (NASDAQ:HCP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $3,369,000. HashiCorp makes up about 0.5% of Murchinson Ltd.’s investment portfolio, making the stock its 23rd largest holding.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of HashiCorp by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after buying an additional 1,501,953 shares in the last quarter. Whale Rock Capital Management LLC lifted its position in shares of HashiCorp by 293.2% during the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock valued at $123,046,000 after buying an additional 3,404,557 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its position in shares of HashiCorp by 53.3% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock valued at $89,985,000 after buying an additional 1,161,600 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. lifted its position in shares of HashiCorp by 50.0% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after buying an additional 949,100 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of HashiCorp by 35.7% during the 4th quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock valued at $64,350,000 after buying an additional 716,574 shares in the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Insiders Place Their Bets

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction on 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 directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,132,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated 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 directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,132,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $33.50, for a total value of $167,500.00. Following the sale, the chief financial officer now directly 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 404,041 shares of company stock valued at $13,636,943 in the last three months. 22.49% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HCP. StockNews.com began coverage on HashiCorp in a research report on Tuesday, September 24th. They set a “hold” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a research note on Friday, August 30th. Finally, Citigroup initiated coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.08.

HashiCorp Stock Up 0.1 %

Shares of HCP opened at $33.90 on Friday. 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 $6.82 billion, a PE ratio of -35.31 and a beta of 1.25. The stock has a fifty day simple moving average of $33.77 and a two-hundred day simple moving average of $31.92.

HashiCorp (NASDAQ:HCP) last issued its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. During the same period last year, the company earned ($0.34) EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities analysts anticipate that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

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.