HashiCorp, Inc. (NASDAQ:HCP) Shares Bought by Slotnik Capital LLC

Slotnik Capital LLC boosted its position in HashiCorp, Inc. (NASDAQ:HCP) by 9.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,116,908 shares of the company’s stock after acquiring an additional 94,450 shares during the quarter. HashiCorp accounts for 12.7% of Slotnik Capital LLC’s holdings, making the stock its 2nd largest holding. Slotnik Capital LLC owned 0.55% of HashiCorp worth $37,819,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of HashiCorp by 22.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 162,300 shares of the company’s stock worth $5,495,000 after purchasing an additional 29,300 shares during the last quarter. Westchester Capital Management LLC grew its stake in shares of HashiCorp by 60.5% in the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock worth $108,363,000 after purchasing an additional 1,206,073 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of HashiCorp in the third quarter worth $13,427,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of HashiCorp by 4.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,513 shares of the company’s stock worth $9,363,000 after purchasing an additional 12,246 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of HashiCorp by 43.8% in the third quarter. MetLife Investment Management LLC now owns 7,491 shares of the company’s stock worth $254,000 after purchasing an additional 2,282 shares during the last quarter. 87.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO David Mcjannet sold 48,055 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $1,626,181.20. Following the completion of the sale, the chief executive officer now owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. The trade was a 10.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $33.83, for a total transaction of $1,214,632.32. Following the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,421,600. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 366,208 shares of company stock valued at $12,391,868. Company insiders own 22.49% of the company’s stock.

HashiCorp Price Performance

Shares of HCP stock opened at $33.62 on Friday. HashiCorp, Inc. has a one year low of $19.26 and a one year high of $34.21. The company’s fifty day moving average price is $33.85 and its 200-day moving average price is $33.70. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of -44.83 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last released its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. During the same period in the prior year, the firm earned ($0.34) EPS. The firm’s revenue was up 15.3% on a year-over-year basis. Equities research analysts expect that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of HashiCorp in a report on Friday. They issued a “hold” rating on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Citigroup started coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $32.08.

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.