Industry Ventures L.L.C. Buys Shares of 6,626 HashiCorp, Inc. (NASDAQ:HCP)

Industry Ventures L.L.C. purchased a new position in shares of HashiCorp, Inc. (NASDAQ:HCP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,626 shares of the company’s stock, valued at approximately $157,000. HashiCorp makes up approximately 0.3% of Industry Ventures L.L.C.’s portfolio, making the stock its 7th biggest position.

Several other institutional investors have also modified their holdings of HCP. Nomura Asset Management Co. Ltd. increased its holdings in HashiCorp by 35.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after acquiring an additional 615 shares in the last quarter. Victory Capital Management Inc. raised its stake in HashiCorp by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after purchasing an additional 2,768 shares during the last quarter. Xponance Inc. lifted its holdings in HashiCorp by 6.7% in the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after purchasing an additional 673 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of HashiCorp by 10.0% during the 3rd quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock worth $246,000 after purchasing an additional 978 shares during the last quarter. Finally, Mirabella Financial Services LLP purchased a new stake in shares of HashiCorp during the third quarter worth about $269,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

HashiCorp Stock Up 0.0 %

Shares of HashiCorp stock traded up $0.01 during trading on Wednesday, hitting $32.81. The stock had a trading volume of 3,778,934 shares, compared to its average volume of 3,616,487. The company has a market capitalization of $6.55 billion, a PE ratio of -33.48 and a beta of 1.25. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $36.39. The stock has a 50 day simple moving average of $27.50 and a 200 day simple moving average of $24.09.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.06. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. The firm had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. As a group, equities analysts expect that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Morgan Stanley upgraded HashiCorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $23.00 to $30.00 in a report on Monday, February 26th. KeyCorp assumed coverage on shares of HashiCorp in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock. Oppenheimer reissued an “outperform” rating and set a $34.00 price objective on shares of HashiCorp in a research note on Wednesday, March 6th. Scotiabank restated a “sector perform” rating and set a $35.00 price objective (up from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. Finally, Citigroup lifted their target price on HashiCorp from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, January 22nd. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.77.

Insider Transactions at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $32.72, for a total transaction of $1,174,778.88. Following the completion of the sale, the chief technology officer now directly owns 1,589,356 shares in the company, valued at approximately $52,003,728.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other HashiCorp news, CEO David Mcjannet sold 33,331 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $27.38, for a total transaction of $912,602.78. Following the sale, the chief executive officer now directly owns 326,912 shares in the company, valued at approximately $8,950,850.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $32.72, for a total value of $1,174,778.88. Following the completion of the sale, the chief technology officer now directly owns 1,589,356 shares in the company, valued at approximately $52,003,728.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 267,427 shares of company stock valued at $7,076,511. 26.13% of the stock is owned by insiders.

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.