Alpine Associates Management Inc. Acquires Shares of 1,440,804 HashiCorp, Inc. (NASDAQ:HCP)

Alpine Associates Management Inc. bought a new position in shares of HashiCorp, Inc. (NASDAQ:HCP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,440,804 shares of the company’s stock, valued at approximately $48,541,000. HashiCorp comprises about 2.3% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 15th largest holding. Alpine Associates Management Inc. owned 0.72% of HashiCorp as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in HCP. Victory Capital Management Inc. grew its holdings in shares of HashiCorp by 28.8% in the fourth quarter. Victory Capital Management Inc. now owns 13,622 shares of the company’s stock valued at $322,000 after purchasing an additional 3,046 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of HashiCorp by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after buying an additional 63,879 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of HashiCorp by 9.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,049,009 shares of the company’s stock worth $24,799,000 after buying an additional 92,586 shares during the last quarter. ING Groep NV purchased a new stake in shares of HashiCorp during the 4th quarter valued at approximately $1,336,000. Finally, Trexquant Investment LP acquired a new position in HashiCorp in the fourth quarter valued at approximately $3,158,000. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

HashiCorp Stock Performance

HCP stock opened at $33.84 on Monday. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $34.05. The company’s 50 day moving average price is $33.69 and its 200 day moving average price is $31.44. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of -35.25 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the business earned ($0.34) EPS. Equities analysts forecast that HashiCorp, Inc. will post -0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Armon Dadgar sold 18,349 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.26, for a total value of $610,287.74. Following the transaction, the chief technology officer now owns 44,371 shares in the company, valued at approximately $1,475,779.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total transaction of $470,360.80. Following the transaction, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at $147,638.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Armon Dadgar sold 18,349 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $33.26, for a total value of $610,287.74. Following the completion of the sale, the chief technology officer now directly owns 44,371 shares of the company’s stock, valued at $1,475,779.46. The disclosure for this sale can be found here. Insiders sold 406,736 shares of company stock valued at $13,640,495 in the last ninety days. Insiders own 22.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HCP shares. StockNews.com started coverage on HashiCorp in a research note on Thursday. They issued a “hold” rating on the stock. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Thursday, June 6th. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup assumed coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HashiCorp has an average rating of “Hold” and an average price target of $32.08.

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.