Elite Wealth Management Inc. Purchases 6,731 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Elite Wealth Management Inc. boosted its position in HashiCorp, Inc. (NASDAQ:HCP) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,405 shares of the company’s stock after acquiring an additional 6,731 shares during the period. HashiCorp accounts for 0.3% of Elite Wealth Management Inc.’s portfolio, making the stock its 19th largest position. Elite Wealth Management Inc.’s holdings in HashiCorp were worth $2,751,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC bought a new position in shares of HashiCorp in the 3rd quarter valued at about $38,000. Blue Trust Inc. lifted its holdings in HashiCorp by 331.2% in the fourth quarter. Blue Trust Inc. now owns 2,057 shares of the company’s stock valued at $70,000 after buying an additional 1,580 shares during the period. KBC Group NV boosted its stake in 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 during the last quarter. Quest Partners LLC grew its holdings in HashiCorp by 64.8% during the 3rd quarter. Quest Partners LLC now owns 5,837 shares of the company’s stock worth $198,000 after acquiring an additional 2,296 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of HashiCorp by 43.8% during the 3rd quarter. MetLife Investment Management LLC now owns 7,491 shares of the company’s stock valued at $254,000 after acquiring an additional 2,282 shares during the last quarter. 86.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on HCP. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a research 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.08.

Insiders Place Their Bets

In other HashiCorp news, CTO Armon Dadgar sold 35,903 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.58, for a total transaction of $1,205,622.74. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,041,600. This represents a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the sale, the chief executive officer now directly owns 465,978 shares in the company, valued at $15,945,767.16. This represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,229 shares of company stock worth $3,441,256. Company insiders own 22.49% of the company’s stock.

HashiCorp Price Performance

NASDAQ:HCP opened at $34.50 on Friday. The business’s 50-day simple moving average is $34.24 and its 200-day simple moving average is $33.96. HashiCorp, Inc. has a fifty-two week low of $21.50 and a fifty-two week high of $34.54. The stock has a market capitalization of $7.05 billion, a PE ratio of -56.56 and a beta of 1.18.

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.