State of New Jersey Common Pension Fund D Purchases 3,118 Shares of HashiCorp, Inc. (NASDAQ:HCP)

State of New Jersey Common Pension Fund D raised its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,686 shares of the company’s stock after acquiring an additional 3,118 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in HashiCorp were worth $1,987,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Swiss National Bank boosted its stake in HashiCorp by 11.8% during the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after buying an additional 23,400 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in HashiCorp during the first quarter valued at approximately $1,070,000. Bessemer Group Inc. bought a new stake in HashiCorp in the first quarter worth $649,000. Vanguard Group Inc. lifted its holdings in shares of HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after acquiring an additional 1,501,953 shares during the last quarter. Finally, New York Life Investment Management LLC bought a new stake in HashiCorp in the second quarter worth about $11,407,000. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at HashiCorp

In other news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at $147,638.40. This trade represents a 76.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was 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 approximately $2,991,466.14. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 371,209 shares of company stock valued at $12,559,456. Corporate insiders own 22.49% of the company’s stock.

HashiCorp Trading Down 0.5 %

Shares of NASDAQ HCP opened at $33.74 on Friday. The stock has a 50 day moving average of $33.88 and a two-hundred day moving average of $33.64. HashiCorp, Inc. has a twelve month low of $19.26 and a twelve month high of $34.21. The stock has a market cap of $6.85 billion, a P/E ratio of -44.99 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The company had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the firm earned ($0.34) EPS. As a group, research analysts predict that HashiCorp, Inc. will post -0.48 earnings per share for the current year.

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.