Paloma Partners Management Co Invests $881,000 in HashiCorp, Inc. (NASDAQ:HCP)

Paloma Partners Management Co purchased a new position in shares of HashiCorp, Inc. (NASDAQ:HCP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 26,007 shares of the company’s stock, valued at approximately $881,000.

A number of other hedge funds have also bought and sold shares of HCP. Longfellow Investment Management Co. LLC bought a new position in HashiCorp during the 3rd quarter worth approximately $38,000. American Capital Advisory LLC bought a new position in HashiCorp during the second quarter worth $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HashiCorp in the third quarter worth $51,000. Quest Partners LLC raised its holdings in shares of HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after purchasing an additional 3,505 shares during the period. Finally, KBC Group NV lifted its position in shares of HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after buying an additional 731 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Piper Sandler reiterated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research note on Friday, August 30th. StockNews.com initiated coverage on HashiCorp in a report on Friday. They issued a “hold” rating on the stock. Citigroup assumed coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Twelve 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 presently has an average rating of “Hold” and an average target price of $32.08.

Insider Activity at HashiCorp

In related news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total transaction of $470,360.80. Following the completion of the sale, the chief marketing officer now directly owns 4,368 shares in the company, valued at approximately $147,638.40. This trade represents a 76.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Mcjannet sold 48,055 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $1,626,181.20. Following the sale, the chief executive officer now owns 419,531 shares of the company’s stock, valued at $14,196,929.04. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 330,304 shares of company stock valued at $11,177,235 over the last 90 days. 22.49% of the stock is currently owned by corporate insiders.

HashiCorp Price Performance

NASDAQ HCP opened at $33.59 on Tuesday. HashiCorp, Inc. has a 12 month low of $19.26 and a 12 month high of $34.21. The firm has a market capitalization of $6.82 billion, a PE ratio of -44.79 and a beta of 1.24. The company’s 50 day simple moving average is $33.84 and its 200 day simple moving average is $33.72.

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.