HashiCorp, Inc. (NASDAQ:HCP) Position Lowered by Elite Wealth Management Inc.

Elite Wealth Management Inc. trimmed its position in HashiCorp, Inc. (NASDAQ:HCP) by 84.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,674 shares of the company’s stock after selling 389,943 shares during the period. HashiCorp accounts for about 0.3% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Elite Wealth Management Inc.’s holdings in HashiCorp were worth $2,495,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of HCP. MetLife Investment Management LLC grew its position in shares of HashiCorp by 43.8% during the 3rd quarter. MetLife Investment Management LLC now owns 7,491 shares of the company’s stock valued at $254,000 after buying an additional 2,282 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in HashiCorp by 15.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,118,478 shares of the company’s stock valued at $37,872,000 after purchasing an additional 149,978 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in HashiCorp during the third quarter worth approximately $38,000. Citigroup Inc. raised its stake in shares of HashiCorp by 62.3% in the 3rd quarter. Citigroup Inc. now owns 143,555 shares of the company’s stock worth $4,861,000 after buying an additional 55,122 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in HashiCorp by 15.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 985,056 shares of the company’s stock valued at $33,354,000 after buying an additional 135,156 shares in the last quarter. Institutional investors and hedge funds own 87.83% of the company’s stock.

Insider Activity at HashiCorp

In other news, insider Ledger Susan St. sold 22,232 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $752,330.88. Following the transaction, the insider now owns 167,747 shares in the company, valued at approximately $5,676,558.48. The trade was a 11.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Mcjannet sold 48,055 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. This trade represents a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 366,208 shares of company stock worth $12,391,868 over the last three months. Company insiders own 22.49% of the company’s stock.

HashiCorp Stock Down 0.6 %

Shares of HCP stock opened at $33.58 on Thursday. The company has a market cap of $6.81 billion, a PE ratio of -44.77 and a beta of 1.24. The business’s 50 day moving average is $33.86 and its two-hundred day moving average is $33.70. HashiCorp, Inc. has a 12 month low of $19.26 and a 12 month high of $34.21.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. During the same period last year, the firm posted ($0.34) earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities analysts expect that HashiCorp, Inc. will post -0.48 EPS for the current fiscal year.

Analyst Ratings Changes

HCP has been the subject of several recent research reports. Citigroup started coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Finally, StockNews.com started coverage on HashiCorp in a report on Saturday, November 23rd. They set a “hold” rating on the stock. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, HashiCorp currently has an average 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.