ABC Arbitrage SA Purchases New Holdings in HashiCorp, Inc. (NASDAQ:HCP)

ABC Arbitrage SA acquired a new position in shares of HashiCorp, Inc. (NASDAQ:HCP) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 158,723 shares of the company’s stock, valued at approximately $5,430,000. HashiCorp accounts for about 0.8% of ABC Arbitrage SA’s portfolio, making the stock its 25th biggest position. ABC Arbitrage SA owned about 0.08% of HashiCorp as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of HCP. ING Groep NV increased its position in HashiCorp by 851.2% during the 3rd quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock worth $56,587,000 after purchasing an additional 1,495,500 shares during the period. Westchester Capital Management LLC raised its position in HashiCorp by 60.5% in the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock worth $108,363,000 after acquiring an additional 1,206,073 shares in the last quarter. Melqart Asset Management UK Ltd acquired a new stake in HashiCorp in the third quarter valued at $28,224,000. Alpine Associates Management Inc. boosted its position in shares of HashiCorp by 48.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after purchasing an additional 701,350 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of HashiCorp by 1,512.2% in the 4th quarter. SG Americas Securities LLC now owns 720,930 shares of the company’s stock valued at $24,663,000 after purchasing an additional 676,212 shares in the last quarter. 86.25% of the stock is currently owned by hedge funds and other institutional investors.

HashiCorp Stock Up 0.1 %

HCP stock opened at $34.39 on Friday. The company has a 50 day moving average price of $34.17 and a two-hundred day moving average price of $33.93. HashiCorp, Inc. has a one year low of $21.50 and a one year high of $34.47.

Insider Activity

In related news, CTO Armon Dadgar sold 17,800 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total value of $609,294.00. Following the completion of the sale, the chief technology officer now directly owns 31,348 shares in the company, valued at approximately $1,073,042.04. The trade was a 36.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the transaction, the chief executive officer now owns 465,978 shares in the company, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,132 shares of company stock valued at $4,658,368 over the last quarter. Company insiders own 22.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.08.

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.