HashiCorp, Inc. (NASDAQ:HCP) Shares Sold by Synovus Financial Corp

Synovus Financial Corp trimmed its position in HashiCorp, Inc. (NASDAQ:HCP) by 42.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,714 shares of the company’s stock after selling 7,925 shares during the period. Synovus Financial Corp’s holdings in HashiCorp were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HCP. Bank of New York Mellon Corp raised its position in HashiCorp by 42.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 675,550 shares of the company’s stock worth $22,759,000 after buying an additional 200,837 shares during the last quarter. American Capital Advisory LLC purchased a new position in shares of HashiCorp during the second quarter worth $40,000. Maryland State Retirement & Pension System acquired a new position in HashiCorp during the second quarter valued at $247,000. Picton Mahoney Asset Management purchased a new stake in HashiCorp in the second quarter valued at $32,330,000. Finally, Pentwater Capital Management LP acquired a new stake in HashiCorp during the 2nd quarter worth about $91,654,000. Hedge funds and other institutional investors own 86.25% of the company’s stock.

Insider Activity

In other news, CTO Armon Dadgar sold 35,903 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $33.90, for a total value of $1,217,111.70. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,528,000. This represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Marc Holmes sold 11,854 shares of the business’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 $401,139.36. Following the transaction, the chief marketing officer now owns 22,536 shares in the company, valued at $762,618.24. The trade was a 34.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 352,291 shares of company stock worth $11,912,497 over the last quarter. 22.49% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HCP shares. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday. StockNews.com started coverage on HashiCorp in a report on Tuesday. They issued a “hold” rating for the company. Piper Sandler restated a “neutral” rating and issued 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 set a “neutral” rating and a $35.00 target price for the company. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.08.

HashiCorp Trading Up 0.5 %

HCP stock opened at $34.08 on Thursday. HashiCorp, Inc. has a 12-month low of $20.89 and a 12-month high of $34.21. The business’s 50-day moving average is $33.81 and its 200 day moving average is $33.75. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of -55.87 and a beta of 1.21.

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.