Brighton Jones LLC Decreases Stock Position in HashiCorp, Inc. (NASDAQ:HCP)

Brighton Jones LLC decreased its position in shares of HashiCorp, Inc. (NASDAQ:HCP) by 28.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,200 shares of the company’s stock after selling 20,189 shares during the period. Brighton Jones LLC’s holdings in HashiCorp were worth $1,725,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in HCP. American Capital Advisory LLC bought a new stake in HashiCorp in the second quarter worth $40,000. Advisors Asset Management Inc. grew its stake in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares in the last quarter. Covestor Ltd increased its holdings in shares of HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after buying an additional 3,480 shares during the last quarter. Quest Partners LLC raised its position in shares of HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of HashiCorp in the 2nd quarter valued at about $208,000. 87.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 21,137 shares of HashiCorp 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 in the company, valued at $777,874.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other HashiCorp news, insider Ledger Susan St. sold 3,264 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $33.45, for a total transaction of $109,180.80. Following the sale, the insider now owns 146,242 shares of the company’s stock, valued at approximately $4,891,794.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 21,137 shares of the business’s stock in a transaction on 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 transaction, the chief technology officer now directly owns 23,234 shares of the company’s stock, valued at $777,874.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 286,794 shares of company stock worth $9,650,892. 22.49% of the stock is currently owned by company insiders.

HashiCorp Price Performance

HashiCorp stock opened at $33.89 on Friday. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of -35.30 and a beta of 1.25. The firm has a 50-day moving average of $33.73 and a two-hundred day moving average of $31.64. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $34.06.

HashiCorp (NASDAQ:HCP) last announced its quarterly 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 firm had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. During the same quarter in the previous year, the business earned ($0.34) earnings per share. HashiCorp’s quarterly revenue was up 15.3% on a year-over-year basis. Research analysts expect that HashiCorp, Inc. will post -0.59 earnings per share for the current year.

Analyst Ratings Changes

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

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.