Townsend Asset Management Corp NC ADV Takes Position in HashiCorp, Inc. (NASDAQ:HCP)

Townsend Asset Management Corp NC ADV purchased a new position in shares of HashiCorp, Inc. (NASDAQ:HCP) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 6,059 shares of the company’s stock, valued at approximately $205,000.

Other institutional investors have also recently bought and sold shares of the company. Xponance Inc. grew its stake in HashiCorp by 3.1% in the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock valued at $346,000 after buying an additional 305 shares during the last quarter. Comerica Bank increased its stake 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 purchasing an additional 374 shares during the period. Advisors Asset Management Inc. lifted its holdings in HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after purchasing an additional 961 shares during the last quarter. Arizona State Retirement System boosted its stake in HashiCorp by 3.5% in 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. Finally, American Capital Advisory LLC acquired a new position in HashiCorp in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

HashiCorp Price Performance

Shares of NASDAQ HCP opened at $33.83 on Tuesday. The company has a 50 day simple moving average of $33.85 and a 200 day simple moving average of $32.79. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $34.06. The firm has a market cap of $6.80 billion, a PE ratio of -35.24 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly 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 firm had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. During the same period in the prior year, the company posted ($0.34) EPS. The company’s revenue was up 15.3% on a year-over-year basis. As a group, research analysts anticipate that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $33.66, for a total transaction of $468,412.56. Following the completion of the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at approximately $147,026.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $33.66, for a total transaction of $468,412.56. Following the sale, the chief marketing officer now owns 4,368 shares in the company, valued at $147,026.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $33.71, for a total value of $1,210,323.84. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,239,200. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 349,221 shares of company stock valued at $11,808,210. 22.49% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. StockNews.com initiated coverage on shares of HashiCorp in a research note on Friday. They issued a “hold” rating for the company. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup assumed coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.