HashiCorp, Inc. (NASDAQ:HCP) Stock Position Decreased by Bank of Montreal Can

Bank of Montreal Can lowered its holdings in HashiCorp, Inc. (NASDAQ:HCP) by 26.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 273,472 shares of the company’s stock after selling 96,158 shares during the period. Bank of Montreal Can owned about 0.13% of HashiCorp worth $9,271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HCP. Xponance Inc. grew its stake in HashiCorp by 3.1% during the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after buying an additional 305 shares during the last quarter. Comerica Bank grew its position in shares of HashiCorp by 2.1% during the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after acquiring an additional 374 shares during the last quarter. KBC Group NV increased its holdings in shares of HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after acquiring an additional 731 shares during the period. Victory Capital Management Inc. lifted its position 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 purchasing an additional 873 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in HashiCorp by 3.5% during the 2nd quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock valued at $1,075,000 after purchasing an additional 1,065 shares during the period. 87.83% of the stock is currently owned by institutional investors and hedge funds.

HashiCorp Trading Up 0.1 %

Shares of HashiCorp stock opened at $33.62 on Monday. HashiCorp, Inc. has a 52 week low of $19.26 and a 52 week high of $34.21. The company’s 50-day moving average price is $33.85 and its two-hundred day moving average price is $33.71. The stock has a market cap of $6.82 billion, a PE ratio of -44.83 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last released its 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 analyst estimates of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.34) earnings per share. On average, equities analysts predict that HashiCorp, Inc. will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,903 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $33.90, for a total transaction of $1,217,111.70. Following the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,528,000. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the transaction, the chief executive officer now owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. The trade was a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 366,208 shares of company stock valued at $12,391,868. Corporate insiders own 22.49% of the company’s stock.

Wall Street Analysts Forecast Growth

HCP has been the topic of several analyst reports. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. StockNews.com initiated coverage on HashiCorp in a research note on Friday. They issued a “hold” rating for the company. Finally, Citigroup started coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective on the stock. Twelve equities 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 company currently has a consensus 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.