HashiCorp, Inc. (NASDAQ:HCP) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. grew its position in HashiCorp, Inc. (NASDAQ:HCP) by 16.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,112,284 shares of the company’s stock after purchasing an additional 294,484 shares during the period. Federated Hermes Inc. owned approximately 1.08% of HashiCorp worth $49,934,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. State of Wisconsin Investment Board grew its holdings in HashiCorp by 0.3% in the second quarter. State of Wisconsin Investment Board now owns 154,892 shares of the company’s stock valued at $4,055,000 after purchasing an additional 540 shares during the period. Citigroup Inc. increased its stake in shares of HashiCorp by 167.6% during the fourth quarter. Citigroup Inc. now owns 918 shares of the company’s stock worth $25,000 after purchasing an additional 575 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after buying an additional 615 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in HashiCorp in the 1st quarter worth about $33,000. Finally, Xponance Inc. boosted its holdings in HashiCorp by 6.7% in the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after buying an additional 673 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Navam Welihinda sold 2,500 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $21.95, for a total transaction of $54,875.00. Following the completion of the transaction, the chief financial officer now directly owns 62,844 shares of the company’s stock, valued at $1,379,425.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $23.02, for a total value of $826,510.08. Following the transaction, the chief technology officer now owns 1,804,780 shares in the company, valued at approximately $41,546,035.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Navam Welihinda sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.95, for a total value of $54,875.00. Following the sale, the chief financial officer now owns 62,844 shares of the company’s stock, valued at approximately $1,379,425.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 262,577 shares of company stock worth $6,484,004. Corporate insiders own 26.13% of the company’s stock.

HashiCorp Trading Up 1.4 %

HCP opened at $23.97 on Friday. The stock’s 50-day moving average price is $25.48 and its 200 day moving average price is $23.18. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $36.39. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of -24.46 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.06. The business had revenue of $155.78 million for the quarter, compared to analysts’ expectations of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. On average, research analysts forecast that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

Analysts Set New Price Targets

HCP has been the topic of a number of research analyst reports. BTIG Research lifted their price target on HashiCorp from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Stifel Nicolaus upped their target price on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Bank of America boosted their price target on shares of HashiCorp from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Scotiabank raised shares of HashiCorp from a “sector perform” rating to a “sector outperform” rating and set a $31.00 target price on the stock in a research note on Tuesday, March 12th. Finally, KeyCorp started coverage on HashiCorp in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.77.

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.