Renaissance Capital LLC Boosts Stake in HashiCorp, Inc. (NASDAQ:HCP)

Renaissance Capital LLC raised its position in HashiCorp, Inc. (NASDAQ:HCP) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,964 shares of the company’s stock after buying an additional 1,857 shares during the period. Renaissance Capital LLC’s holdings in HashiCorp were worth $1,724,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HCP. Industry Ventures L.L.C. bought a new position in shares of HashiCorp during the fourth quarter worth about $157,000. Victory Capital Management Inc. lifted its position in shares of HashiCorp by 35.5% during the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after purchasing an additional 2,768 shares during the last quarter. Mirabella Financial Services LLP bought a new position in shares of HashiCorp during the third quarter worth about $269,000. SVB Wealth LLC bought a new position in shares of HashiCorp during the fourth quarter worth about $273,000. Finally, Aristides Capital LLC bought a new position in shares of HashiCorp during the fourth quarter worth about $286,000. 87.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HCP has been the topic of several research reports. Piper Sandler increased their price objective on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Thursday, June 6th. KeyCorp initiated coverage on shares of HashiCorp in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock. Oppenheimer reiterated an “outperform” rating and set a $34.00 price objective on shares of HashiCorp in a research note on Wednesday, March 6th. Finally, Bank of America increased their price objective on shares of HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.17.

HashiCorp Trading Down 0.8 %

NASDAQ:HCP traded down $0.28 during trading hours on Thursday, reaching $33.28. 5,761,024 shares of the company’s stock were exchanged, compared to its average volume of 3,732,333. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $34.05. The business’s 50-day simple moving average is $31.66 and its two-hundred day simple moving average is $26.78.

Insider Buying and Selling

In related news, Director Sigal Zarmi sold 4,350 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total value of $130,500.00. Following the completion of the transaction, the director now owns 37,991 shares of the company’s stock, valued at approximately $1,139,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other HashiCorp news, Director Sigal Zarmi sold 4,350 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total value of $130,500.00. Following the completion of the sale, the director now owns 37,991 shares in the company, valued at approximately $1,139,730. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Marc Holmes sold 13,916 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $33.74, for a total transaction of $469,525.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,702 shares of company stock valued at $6,591,424. Company 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.