Xponance Inc. Lowers Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Xponance Inc. trimmed its holdings in HashiCorp, Inc. (NASDAQ:HCP) by 12.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,331 shares of the company’s stock after selling 1,370 shares during the period. Xponance Inc.’s holdings in HashiCorp were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. TimesSquare Capital Management LLC bought a new stake in shares of HashiCorp in the third quarter worth about $55,774,000. Atreides Management LP bought a new stake in shares of HashiCorp in the third quarter worth about $31,413,000. Federated Hermes Inc. increased its holdings in shares of HashiCorp by 38.0% in the third quarter. Federated Hermes Inc. now owns 1,817,800 shares of the company’s stock worth $41,500,000 after purchasing an additional 500,400 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 worth $221,976,000 after purchasing an additional 455,179 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of HashiCorp in the fourth quarter worth about $7,124,000. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

HashiCorp Stock Performance

HCP opened at $32.59 on Friday. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of -33.25 and a beta of 1.42. The stock’s 50 day moving average price is $26.08 and its 200-day moving average price is $23.45. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $36.39.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. The firm had revenue of $155.78 million during the quarter, compared to analyst estimates of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. As a group, analysts predict that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HCP shares. JMP Securities reaffirmed a “market outperform” rating and issued a $38.00 target price on shares of HashiCorp in a report on Thursday, March 7th. TD Cowen boosted their price objective on HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. StockNews.com raised HashiCorp from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Needham & Company LLC reissued a “hold” rating on shares of HashiCorp in a research note on Thursday. Finally, Oppenheimer reissued an “outperform” rating and set a $34.00 price objective on shares of HashiCorp in a research note on Wednesday, March 6th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.77.

Insider Activity at HashiCorp

In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $23.02, for a total value of $826,510.08. Following the completion of the sale, the chief technology officer now owns 1,804,780 shares in the company, valued at $41,546,035.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other HashiCorp news, Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total transaction of $130,500.00. Following the completion of the sale, the director now owns 37,991 shares in the company, valued at $1,139,730. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $23.02, for a total value of $826,510.08. Following the sale, the chief technology officer now owns 1,804,780 shares of the company’s stock, valued at approximately $41,546,035.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 267,427 shares of company stock worth $6,728,242. Company insiders own 26.13% of the company’s stock.

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.