New York Life Investment Management LLC Lowers Holdings in HashiCorp, Inc. (NASDAQ:HCP)

New York Life Investment Management LLC reduced its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 18.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 278,535 shares of the company’s stock after selling 61,508 shares during the quarter. New York Life Investment Management LLC owned 0.14% of HashiCorp worth $9,529,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Westchester Capital Management LLC boosted its stake in shares of HashiCorp by 60.5% during the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock worth $108,363,000 after acquiring an additional 1,206,073 shares in the last quarter. Geode Capital Management LLC boosted its position in HashiCorp by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after purchasing an additional 385,118 shares in the last quarter. State Street Corp boosted its position in HashiCorp by 14.5% during the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after purchasing an additional 282,965 shares in the last quarter. Alpine Associates Management Inc. grew its holdings in HashiCorp by 48.7% in the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after purchasing an additional 701,350 shares during the period. Finally, ING Groep NV increased its position in shares of HashiCorp by 851.2% in the third quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock valued at $56,587,000 after buying an additional 1,495,500 shares in the last quarter. 86.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, HashiCorp currently has an average rating of “Hold” and an average price target of $32.27.

HashiCorp Trading Up 0.5 %

HCP opened at $34.99 on Friday. The firm has a market capitalization of $7.15 billion, a PE ratio of -57.36 and a beta of 1.18. HashiCorp, Inc. has a twelve month low of $23.00 and a twelve month high of $34.85. The firm’s 50-day moving average price is $34.31 and its 200 day moving average price is $34.00.

Insider Transactions at HashiCorp

In other news, CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.58, for a total transaction of $1,205,622.74. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,041,600. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Mcjannet sold 47,526 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 465,978 shares in the company, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,229 shares of company stock worth $3,441,256 in the last ninety days. Insiders own 22.49% of the company’s stock.

HashiCorp Company 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.