HashiCorp, Inc. (NASDAQ:HCP) is Elite Wealth Management Inc.’s 6th Largest Position

Elite Wealth Management Inc. lowered its position in HashiCorp, Inc. (NASDAQ:HCP) by 7.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 463,617 shares of the company’s stock after selling 37,116 shares during the period. HashiCorp comprises approximately 0.5% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 6th biggest position. Elite Wealth Management Inc.’s holdings in HashiCorp were worth $15,619,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in HashiCorp by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after purchasing an additional 63,879 shares in the last quarter. Swiss National Bank lifted its stake in HashiCorp by 11.8% during the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $5,972,000 after purchasing an additional 23,400 shares in the last quarter. Contour Asset Management LLC acquired a new position in HashiCorp during the fourth quarter worth $21,217,000. GGV Capital LLC boosted its position in shares of HashiCorp by 4.6% during the fourth quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock worth $15,579,000 after buying an additional 29,064 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of HashiCorp in the 4th quarter valued at $3,158,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

HashiCorp Stock Performance

Shares of NASDAQ HCP opened at $33.94 on Friday. The stock’s 50-day simple moving average is $33.73 and its 200-day simple moving average is $31.59. The firm has a market capitalization of $6.82 billion, a PE ratio of -35.35 and a beta of 1.25. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $34.06.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter last year, the company earned ($0.34) earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, sell-side analysts forecast that HashiCorp, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Activity at HashiCorp

In related news, CTO Armon Dadgar sold 21,137 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $33.48, for a total value of $707,666.76. Following the completion of the sale, the chief technology officer now directly owns 23,234 shares of the company’s stock, valued at approximately $777,874.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Ledger Susan St. sold 3,264 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $33.45, for a total transaction of $109,180.80. Following the transaction, the insider now owns 146,242 shares of the company’s stock, valued at $4,891,794.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 21,137 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $33.48, for a total value of $707,666.76. Following the completion of the transaction, the chief technology officer now owns 23,234 shares in the company, valued at approximately $777,874.32. The disclosure for this sale can be found here. Insiders sold a total of 286,794 shares of company stock valued at $9,650,892 over the last ninety days. Insiders own 22.49% of the company’s stock.

HashiCorp Company 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.