HashiCorp, Inc. (NASDAQ:HCP) Position Increased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of HashiCorp, Inc. (NASDAQ:HCP) by 21.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,178 shares of the company’s stock after acquiring an additional 14,582 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in HashiCorp were worth $1,990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of HCP. Connor Clark & Lunn Investment Management Ltd. bought a new position in HashiCorp during the third quarter valued at about $309,000. Qsemble Capital Management LP bought a new position in HashiCorp during the third quarter valued at about $1,119,000. Artemis Investment Management LLP bought a new position in HashiCorp during the fourth quarter valued at about $7,124,000. Vanguard Group Inc. grew its position in shares of HashiCorp by 4.9% in the third quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after purchasing an additional 455,179 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of HashiCorp in the third quarter valued at about $491,000. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $21.82, for a total transaction of $783,425.28. Following the transaction, the chief technology officer now owns 1,768,876 shares of the company’s stock, valued at approximately $38,596,874.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $21.82, for a total transaction of $783,425.28. Following the transaction, the chief technology officer now owns 1,768,876 shares of the company’s stock, valued at approximately $38,596,874.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the chief financial officer now directly owns 62,844 shares in the company, valued at approximately $1,571,100. The disclosure for this sale can be found here. Insiders have sold 224,173 shares of company stock valued at $5,641,396 in the last three months. 26.13% of the stock is owned by corporate insiders.

HashiCorp Trading Up 18.7 %

HCP stock opened at $29.15 on Wednesday. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $36.39. The firm has a market cap of $5.82 billion, a P/E ratio of -29.74 and a beta of 1.42. The business’s 50 day moving average is $25.59 and its 200-day moving average is $23.25.

HashiCorp (NASDAQ:HCP) last announced its earnings results on Tuesday, March 5th. The company reported ($0.15) 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 the consensus estimate of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. Sell-side analysts forecast that HashiCorp, Inc. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HCP shares. Stifel Nicolaus raised their price target on HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Bank of America raised their price target on HashiCorp from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Citigroup raised their price target on HashiCorp from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 22nd. StockNews.com raised HashiCorp from a “sell” rating to a “hold” rating in a research report on Monday. Finally, KeyCorp assumed coverage on HashiCorp in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.