HashiCorp, Inc. (NASDAQ:HCP) is Alpine Associates Management Inc.’s 6th Largest Position

Alpine Associates Management Inc. raised its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,394,854 shares of the company’s stock after acquiring an additional 252,700 shares during the period. HashiCorp makes up 5.0% of Alpine Associates Management Inc.’s holdings, making the stock its 6th biggest holding. Alpine Associates Management Inc. owned approximately 1.17% of HashiCorp worth $81,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Longfellow Investment Management Co. LLC purchased a new stake in HashiCorp during the third quarter worth about $38,000. Blue Trust Inc. increased its stake in HashiCorp by 331.2% during the 4th quarter. Blue Trust Inc. now owns 2,057 shares of the company’s stock worth $70,000 after buying an additional 1,580 shares during the period. KBC Group NV lifted its holdings in HashiCorp by 25.8% during the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after buying an additional 731 shares in the last quarter. Quest Partners LLC boosted its position in HashiCorp by 64.8% in the 3rd quarter. Quest Partners LLC now owns 5,837 shares of the company’s stock valued at $198,000 after buying an additional 2,296 shares during the period. Finally, MetLife Investment Management LLC boosted its position in HashiCorp by 43.8% in the 3rd quarter. MetLife Investment Management LLC now owns 7,491 shares of the company’s stock valued at $254,000 after buying an additional 2,282 shares during the period. 86.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HCP. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.40.

Insider Activity at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 47,526 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the transaction, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 17,800 shares of HashiCorp stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $34.23, for a total value of $609,294.00. Following the sale, the chief technology officer now owns 31,348 shares in the company, valued at $1,073,042.04. This trade represents a 36.22 % decrease in their position. The disclosure for this sale can be found here. 22.49% of the stock is currently owned by corporate insiders.

HashiCorp Stock Performance

NASDAQ:HCP opened at $34.78 on Friday. HashiCorp, Inc. has a 1 year low of $23.00 and a 1 year high of $34.85. The stock has a market cap of $7.11 billion, a P/E ratio of -57.02 and a beta of 1.18. The stock has a 50-day simple moving average of $34.38 and a 200-day simple moving average of $34.04.

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.