Handelsbanken Fonder AB Grows Stake in HashiCorp, Inc. (NASDAQ:HCP)

Handelsbanken Fonder AB lifted its position in HashiCorp, Inc. (NASDAQ:HCP) by 49.6% during the 4th quarter, HoldingsChannel reports. The firm owned 36,200 shares of the company’s stock after buying an additional 12,000 shares during the period. Handelsbanken Fonder AB’s holdings in HashiCorp were worth $1,238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HCP. ING Groep NV grew its holdings in shares of HashiCorp by 851.2% during the 3rd quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock valued at $56,587,000 after purchasing an additional 1,495,500 shares during the last quarter. Westchester Capital Management LLC grew its stake in shares of HashiCorp by 60.5% during the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock valued at $108,363,000 after buying an additional 1,206,073 shares during the last quarter. Melqart Asset Management UK Ltd purchased a new position in shares of HashiCorp in the third quarter worth about $28,224,000. Alpine Associates Management Inc. lifted its stake in shares of HashiCorp by 48.7% in the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after acquiring an additional 701,350 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in HashiCorp by 1,512.2% during the 4th quarter. SG Americas Securities LLC now owns 720,930 shares of the company’s stock valued at $24,663,000 after acquiring an additional 676,212 shares during the period. Hedge funds and other institutional investors own 86.25% of the company’s stock.

Insiders Place Their Bets

In other news, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the transaction, the chief executive officer now directly owns 465,978 shares in the company, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Armon Dadgar sold 17,800 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $34.23, for a total value of $609,294.00. Following the completion of the sale, the chief technology officer now owns 31,348 shares in the company, valued at $1,073,042.04. The trade was a 36.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,229 shares of company stock worth $3,441,256. Company insiders own 22.49% of the company’s stock.

HashiCorp Trading Down 0.1 %

Shares of HCP opened at $34.78 on Thursday. HashiCorp, Inc. has a 1-year low of $23.00 and a 1-year high of $34.85. The firm’s 50-day moving average price is $34.29 and its 200-day moving average price is $33.99. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HCP shares. StockNews.com raised HashiCorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Eleven 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, the stock has an average rating of “Hold” and a consensus price target of $32.27.

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.