SVB Wealth LLC Makes New $379,000 Investment in HashiCorp, Inc. (NASDAQ:HCP)

SVB Wealth LLC purchased a new stake in HashiCorp, Inc. (NASDAQ:HCP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,078 shares of the company’s stock, valued at approximately $379,000.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in HashiCorp by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 11,913 shares of the company’s stock valued at $408,000 after buying an additional 397 shares in the last quarter. KBC Group NV lifted its position in shares of HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after acquiring an additional 731 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of HashiCorp by 4.8% during the third quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock valued at $646,000 after acquiring an additional 873 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in shares of HashiCorp during the third quarter valued at $38,000. Finally, Ashton Thomas Private Wealth LLC increased its position in HashiCorp by 15.9% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 8,461 shares of the company’s stock worth $286,000 after purchasing an additional 1,160 shares in the last quarter. 86.25% of the stock is owned by hedge funds and other institutional investors.

HashiCorp Stock Performance

Shares of HCP stock opened at $34.78 on Wednesday. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18. HashiCorp, Inc. has a one year low of $23.00 and a one year high of $34.85. The company has a 50 day moving average price of $34.34 and a 200 day moving average price of $34.03.

Wall Street Analysts Forecast Growth

HCP has been the topic of a number of recent research reports. StockNews.com upgraded shares of HashiCorp from a “hold” rating to a “buy” rating in a report on Monday, January 13th. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, HashiCorp has a consensus rating of “Hold” and an average price target of $32.50.

Insider Transactions at HashiCorp

In other news, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the transaction, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at $15,945,767.16. The trade was a 9.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Armon Dadgar sold 17,800 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was 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 approximately $1,073,042.04. This trade represents a 36.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.49% of the company’s stock.

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.