WPWealth LLP Makes New Investment in HashiCorp, Inc. (NASDAQ:HCP)

WPWealth LLP bought a new position in HashiCorp, Inc. (NASDAQ:HCP) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,224 shares of the company’s stock, valued at approximately $437,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. lifted 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 buying an additional 961 shares in the last quarter. Covestor Ltd lifted its position in shares of HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after buying an additional 3,480 shares in the last quarter. Industry Ventures L.L.C. purchased a new position in shares of HashiCorp during the 4th quarter valued at about $157,000. SVB Wealth LLC purchased a new position in shares of HashiCorp during the 4th quarter valued at about $273,000. Finally, Aristides Capital LLC purchased a new position in shares of HashiCorp during the 4th quarter valued at about $286,000. 87.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HCP has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Thursday, June 6th. Bank of America boosted their price target on HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Piper Sandler boosted their price target on HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. BTIG Research cut HashiCorp from a “buy” rating to a “neutral” rating in a report on Wednesday, April 24th. Finally, StockNews.com began coverage on HashiCorp in a report on Friday. They issued a “hold” rating on the stock. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.17.

HashiCorp Price Performance

Shares of HCP stock traded up $0.08 during mid-day trading on Tuesday, hitting $33.66. The stock had a trading volume of 3,258,554 shares, compared to its average volume of 3,570,237. The firm’s 50-day moving average is $33.57 and its two-hundred day moving average is $28.97. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $34.05. The firm has a market capitalization of $6.77 billion, a P/E ratio of -35.06 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Thursday, May 30th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.02. The firm had revenue of $160.58 million for the quarter, compared to analyst estimates of $153.39 million. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. Analysts expect that HashiCorp, Inc. will post -0.8 EPS for the current year.

Insider Activity

In related news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $33.74, for a total transaction of $469,525.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction on Monday, June 10th. The stock was sold at an average price of $33.74, for a total value of $469,525.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sigal Zarmi sold 975 shares of HashiCorp stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.60, for a total value of $32,760.00. Following the completion of the sale, the director now directly owns 37,546 shares of the company’s stock, valued at $1,261,545.60. The disclosure for this sale can be found here. Insiders have sold a total of 392,820 shares of company stock worth $13,108,279 over the last quarter. 22.49% of the stock is currently owned by corporate insiders.

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.