AlphaQuest LLC Buys 16,796 Shares of HashiCorp, Inc. (NASDAQ:HCP)

AlphaQuest LLC grew its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 287.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 22,633 shares of the company’s stock after purchasing an additional 16,796 shares during the quarter. AlphaQuest LLC’s holdings in HashiCorp were worth $774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Westchester Capital Management LLC raised its position in shares of HashiCorp by 60.5% during the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock valued at $108,363,000 after buying an additional 1,206,073 shares during the last quarter. Geode Capital Management LLC raised its position in shares of HashiCorp by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after buying an additional 385,118 shares during the last quarter. Alpine Associates Management Inc. raised its position in shares of HashiCorp by 11.8% during the fourth quarter. Alpine Associates Management Inc. now owns 2,394,854 shares of the company’s stock valued at $81,928,000 after buying an additional 252,700 shares during the last quarter. State Street Corp increased its position in HashiCorp by 14.5% in 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 during the last quarter. Finally, ING Groep NV increased its position in HashiCorp by 851.2% in the third quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock worth $56,587,000 after purchasing an additional 1,495,500 shares during the last quarter. Institutional investors own 86.25% of the company’s stock.

Insider Buying and Selling at HashiCorp

In other news, CEO David Mcjannet sold 47,526 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Armon Dadgar sold 17,800 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the sale, the chief technology officer now directly owns 31,348 shares of the company’s stock, valued at $1,073,042.04. This represents a 36.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 22.49% of the company’s stock.

Wall Street Analyst Weigh In

HCP has been the topic of several research reports. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com upgraded shares of HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $34.40.

HashiCorp Price Performance

HCP stock opened at $34.78 on Wednesday. HashiCorp, Inc. has a twelve month low of $23.00 and a twelve month high of $34.85. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18. The firm’s fifty day simple moving average is $34.40 and its two-hundred day simple moving average is $34.06.

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.