Artemis Investment Management LLP Purchases 1,253,723 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Artemis Investment Management LLP boosted its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP) by 416.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,555,104 shares of the company’s stock after acquiring an additional 1,253,723 shares during the quarter. Artemis Investment Management LLP owned 0.78% of HashiCorp worth $41,891,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of HCP. Industry Ventures L.L.C. purchased a new stake in shares of HashiCorp during the 4th quarter worth approximately $157,000. SVB Wealth LLC purchased a new position in shares of HashiCorp during the 4th quarter valued at $273,000. Aristides Capital LLC purchased a new position in shares of HashiCorp during the 4th quarter valued at $286,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of HashiCorp during the 3rd quarter worth $309,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of HashiCorp by 28.8% during the 4th quarter. Victory Capital Management Inc. now owns 13,622 shares of the company’s stock worth $322,000 after acquiring an additional 3,046 shares during the last quarter. 87.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. BTIG Research downgraded shares of HashiCorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 24th. Scotiabank restated a “sector perform” rating and issued a $35.00 price objective (up previously from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. TD Cowen upped their price objective on shares of HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. Needham & Company LLC reiterated a “hold” rating on shares of HashiCorp in a research note on Thursday, April 25th. Finally, JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Thursday, June 6th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, HashiCorp currently has an average rating of “Hold” and a consensus price target of $31.17.

Insiders Place Their Bets

In other HashiCorp news, insider Ledger Susan St. sold 22,366 shares of HashiCorp stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $33.26, for a total transaction of $743,893.16. Following the completion of the sale, the insider now directly owns 143,072 shares in the company, valued at $4,758,574.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other HashiCorp 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 transaction of $130,500.00. Following the sale, the director now owns 37,991 shares of the company’s stock, valued at $1,139,730. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ledger Susan St. sold 22,366 shares of HashiCorp stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total transaction of $743,893.16. Following the completion of the transaction, the insider now directly owns 143,072 shares in the company, valued at $4,758,574.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 395,170 shares of company stock worth $12,439,765. Company insiders own 22.49% of the company’s stock.

HashiCorp Stock Performance

NASDAQ HCP traded up $0.19 on Friday, hitting $33.69. 2,978,152 shares of the company’s stock traded hands, compared to its average volume of 3,730,934. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $34.05. The firm’s 50-day moving average price is $32.78 and its two-hundred day moving average price is $27.16.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.02. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. The business had revenue of $160.58 million during the quarter, compared to analysts’ expectations of $153.39 million. As a group, analysts predict that HashiCorp, Inc. will post -0.8 earnings per share for the current year.

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.