Public Employees Retirement System of Ohio Buys 14,555 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Public Employees Retirement System of Ohio lifted its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 39.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,231 shares of the company’s stock after purchasing an additional 14,555 shares during the period. Public Employees Retirement System of Ohio’s holdings in HashiCorp were worth $1,735,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Xponance Inc. lifted its holdings in HashiCorp by 3.1% during the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after buying an additional 305 shares in the last quarter. KBC Group NV raised its holdings in HashiCorp by 25.8% during the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after purchasing an additional 731 shares during the last quarter. Victory Capital Management Inc. lifted its position in HashiCorp by 4.8% during the 3rd quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock valued at $646,000 after purchasing an additional 873 shares during the period. Arizona State Retirement System lifted its position in HashiCorp by 3.5% during the 2nd quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock valued at $1,075,000 after purchasing an additional 1,065 shares during the period. Finally, Longfellow Investment Management Co. LLC bought a new position in shares of HashiCorp in the 3rd quarter valued at about $38,000. 86.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 22,779 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $770,841.36. Following the completion of the transaction, the chief technology officer now directly owns 44,934 shares of the company’s stock, valued at approximately $1,520,566.56. This trade represents a 33.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Marc Holmes sold 13,782 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total transaction of $465,969.42. Following the sale, the chief marketing officer now directly owns 8,754 shares in the company, valued at $295,972.74. This trade represents a 61.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 352,291 shares of company stock valued at $11,912,497 in the last three months. 22.49% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HCP has been the subject of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. StockNews.com began coverage on HashiCorp in a report on Tuesday. They issued a “hold” rating for the company. Citigroup started coverage on HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, HashiCorp presently has an average rating of “Hold” and an average price target of $32.08.

HashiCorp Price Performance

HCP stock opened at $34.08 on Thursday. The business has a 50-day moving average of $33.81 and a 200-day moving average of $33.75. HashiCorp, Inc. has a fifty-two week low of $20.89 and a fifty-two week high of $34.21. The stock has a market capitalization of $6.97 billion, a P/E ratio of -55.87 and a beta of 1.21.

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.