Arizona State Retirement System Grows Stake in HashiCorp, Inc. (NASDAQ:HCP)

Arizona State Retirement System increased its stake in HashiCorp, Inc. (NASDAQ:HCP) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,267 shares of the company’s stock after acquiring an additional 1,561 shares during the period. Arizona State Retirement System’s holdings in HashiCorp were worth $1,480,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in HashiCorp by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 11,913 shares of the company’s stock worth $408,000 after acquiring an additional 397 shares in the last quarter. KBC Group NV grew its position in HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after acquiring an additional 731 shares in the last quarter. Victory Capital Management Inc. grew its position in HashiCorp by 4.8% in the third quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock worth $646,000 after acquiring an additional 873 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in HashiCorp in the third quarter worth about $38,000. Finally, Ashton Thomas Private Wealth LLC grew its position in HashiCorp by 15.9% in the third quarter. Ashton Thomas Private Wealth LLC now owns 8,461 shares of the company’s stock worth $286,000 after acquiring an additional 1,160 shares in the last quarter. Hedge funds and other institutional investors own 86.25% of the company’s stock.

Wall Street Analyst Weigh In

HCP has been the subject of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $34.40.

Insider Activity

In other news, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 17,800 shares of HashiCorp stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the sale, the chief technology officer now directly owns 31,348 shares of the company’s stock, valued at $1,073,042.04. This represents a 36.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.49% of the company’s stock.

HashiCorp Stock Performance

HashiCorp stock opened at $34.78 on Thursday. The company has a 50 day moving average price of $34.41 and a 200-day moving average price of $34.06. HashiCorp, Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $34.85. The company has a market capitalization of $7.11 billion, a PE ratio of -57.02 and a beta of 1.18.

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.