Sycomore Asset Management Reduces Stock Position in HashiCorp, Inc. (NASDAQ:HCP)

Sycomore Asset Management decreased its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 98.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,000 shares of the company’s stock after selling 302,411 shares during the quarter. Sycomore Asset Management’s holdings in HashiCorp were worth $201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in shares of HashiCorp by 9.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,049,009 shares of the company’s stock worth $24,799,000 after acquiring an additional 92,586 shares during the period. Hsbc Holdings PLC increased its position in HashiCorp by 569.4% during the fourth quarter. Hsbc Holdings PLC now owns 99,235 shares of the company’s stock worth $2,373,000 after purchasing an additional 84,410 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in 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 worth $1,020,000 after purchasing an additional 420 shares during the period. First Trust Advisors LP boosted its holdings in HashiCorp by 35.7% in the 4th quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock valued at $64,350,000 after purchasing an additional 716,574 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of HashiCorp by 45.6% in the 4th quarter. Capital Research Global Investors now owns 495,316 shares of the company’s stock valued at $11,709,000 after buying an additional 155,031 shares during the period. Institutional investors and hedge funds own 87.83% of the company’s stock.

Insider Buying and Selling

In related news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the sale, the chief financial officer now directly owns 88,322 shares in the company, valued at $2,991,466.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $33.46, for a total value of $465,629.36. Following the transaction, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at $146,153.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the sale, the chief financial officer now owns 88,322 shares in the company, valued at $2,991,466.14. The disclosure for this sale can be found here. Insiders sold 368,137 shares of company stock valued at $12,429,132 in the last three months. 22.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on HCP. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Citigroup initiated coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Finally, StockNews.com began coverage on shares of HashiCorp in a report on Monday. They issued a “hold” rating on the stock. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, HashiCorp currently has an average rating of “Hold” and an average price target of $32.08.

HashiCorp Stock Performance

NASDAQ HCP opened at $33.86 on Tuesday. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $34.06. The firm has a 50 day simple moving average of $33.77 and a 200-day simple moving average of $32.05. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -35.27 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The business had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. Equities analysts predict that HashiCorp, Inc. will post -0.48 EPS for the current fiscal 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.