Bank of Montreal Can Buys Shares of 369,630 HashiCorp, Inc. (NASDAQ:HCP)

Bank of Montreal Can purchased a new position in HashiCorp, Inc. (NASDAQ:HCP) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 369,630 shares of the company’s stock, valued at approximately $12,457,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Comerica Bank lifted its position in HashiCorp by 2.1% in the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after acquiring an additional 374 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of HashiCorp by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after buying an additional 420 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of 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 acquiring an additional 961 shares during the last quarter. Arizona State Retirement System grew its stake in shares of HashiCorp by 3.5% in the second quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock worth $1,075,000 after acquiring an additional 1,065 shares during the period. Finally, American Capital Advisory LLC bought a new stake in shares of HashiCorp in the second quarter worth approximately $40,000. Institutional investors own 87.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at HashiCorp

In other 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 transaction of $1,207,810.56. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,132,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $33.64, for a total value of $1,207,810.56. Following the completion of the transaction, 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 accessible through this link. Also, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction on Monday, July 22nd. The shares were 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 in the company, valued at approximately $3,064,747.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 404,041 shares of company stock worth $13,636,943. Company insiders own 22.49% of the company’s stock.

HashiCorp Price Performance

Shares of HCP stock opened at $33.90 on Monday. The company has a market cap of $6.82 billion, a PE ratio of -35.31 and a beta of 1.25. The stock’s 50 day simple moving average is $33.77 and its two-hundred day simple moving average is $31.96. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $34.06.

HashiCorp (NASDAQ:HCP) last released its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $165.14 million for the quarter, compared to analyst estimates 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 was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.34) earnings per share. Equities research analysts expect that HashiCorp, Inc. will post -0.48 EPS for the current 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.