HashiCorp, Inc. (NASDAQ:HCP) Shares Bought by Swiss National Bank

Swiss National Bank increased its stake in HashiCorp, Inc. (NASDAQ:HCP) by 26.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 282,700 shares of the company’s stock after purchasing an additional 58,300 shares during the quarter. Swiss National Bank owned about 0.14% of HashiCorp worth $9,572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Xponance Inc. boosted its stake in HashiCorp by 3.1% during the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock valued at $346,000 after purchasing an additional 305 shares in the last quarter. Comerica Bank raised its position in HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after acquiring an additional 374 shares in the last quarter. KBC Group NV lifted its holdings in HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after acquiring an additional 731 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in HashiCorp by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock valued at $646,000 after acquiring an additional 873 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after purchasing an additional 961 shares in the last quarter. Institutional investors own 87.83% of the company’s stock.

Insider Buying and Selling at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,467,200. This trade represents a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total transaction of $470,360.80. Following the completion of the sale, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at $147,638.40. This represents a 76.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 330,305 shares of company stock worth $11,174,756 over the last 90 days. 22.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HCP has been the topic of a number of research reports. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Citigroup started coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, StockNews.com assumed coverage on HashiCorp in a report on Saturday. They set a “hold” rating for the company. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, HashiCorp presently has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Performance

HCP stock opened at $33.92 on Monday. The firm has a 50 day simple moving average of $33.87 and a 200 day simple moving average of $33.68. HashiCorp, Inc. has a 52 week low of $19.26 and a 52 week high of $34.21. The stock has a market cap of $6.88 billion, a P/E ratio of -45.23 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last issued its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $157.22 million. During the same quarter last year, the business posted ($0.34) EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Sell-side analysts predict that HashiCorp, Inc. will post -0.48 EPS 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.