Readystate Asset Management LP Raises Stock Position in HashiCorp, Inc. (NASDAQ:HCP)

Readystate Asset Management LP lifted its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 123.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 994,670 shares of the company’s stock after buying an additional 548,770 shares during the quarter. HashiCorp comprises about 0.6% of Readystate Asset Management LP’s holdings, making the stock its 15th biggest holding. Readystate Asset Management LP owned 0.49% of HashiCorp worth $33,680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Longfellow Investment Management Co. LLC acquired a new position in shares of HashiCorp in the 3rd quarter valued at $38,000. American Capital Advisory LLC acquired a new position in shares of HashiCorp in the 2nd quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HashiCorp in the 3rd quarter valued at $51,000. Quest Partners LLC increased its holdings in shares of HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after acquiring an additional 3,505 shares during the period. Finally, KBC Group NV increased its holdings in shares of HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after acquiring an additional 731 shares during the period. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Citigroup assumed coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. StockNews.com assumed coverage on shares of HashiCorp in a research note on Thursday. They issued a “hold” rating on the stock. Finally, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Up 0.0 %

NASDAQ:HCP opened at $33.58 on Thursday. HashiCorp, Inc. has a fifty-two week low of $19.26 and a fifty-two week high of $34.21. The firm’s fifty day simple moving average is $33.83 and its 200-day simple moving average is $33.72.

Insider Buying and Selling

In related news, CEO David Mcjannet sold 48,055 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 419,531 shares in the company, valued at $14,196,929.04. The trade was a 10.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total transaction of $470,360.80. Following the completion of the sale, the chief marketing officer now owns 4,368 shares in the company, valued at $147,638.40. This represents a 76.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 366,207 shares of company stock worth $12,382,858 in the last three months. Corporate insiders own 22.49% of the company’s stock.

About HashiCorp

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.