Verition Fund Management LLC Acquires New Shares in HashiCorp, Inc. (NASDAQ:HCP)

Verition Fund Management LLC bought a new position in shares of HashiCorp, Inc. (NASDAQ:HCP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 396,533 shares of the company’s stock, valued at approximately $13,427,000. Verition Fund Management LLC owned approximately 0.20% of HashiCorp at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Longfellow Investment Management Co. LLC bought a new stake in shares of HashiCorp during the 3rd quarter valued at approximately $38,000. American Capital Advisory LLC bought a new stake in shares of HashiCorp during the second quarter worth $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HashiCorp during the third quarter worth $51,000. Advisors Asset Management Inc. lifted its stake in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after acquiring an additional 961 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after acquiring an additional 3,505 shares in the last quarter. Institutional investors own 87.83% of the company’s stock.

HashiCorp Price Performance

Shares of HashiCorp stock opened at $33.62 on Friday. The stock’s 50-day moving average is $33.85 and its 200 day moving average is $33.70. HashiCorp, Inc. has a one year low of $19.26 and a one year high of $34.21. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of -44.83 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. During the same quarter in the prior year, the business earned ($0.34) earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts expect that HashiCorp, Inc. will post -0.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on HCP shares. StockNews.com assumed coverage on HashiCorp in a report on Friday. They issued a “hold” rating for the company. Citigroup started coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. Piper Sandler reiterated a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Finally, JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.08.

Insider Buying and Selling

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $33.83, for a total value of $1,214,632.32. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,421,600. This represents a 2.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at $147,638.40. The trade was a 76.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 366,208 shares of company stock worth $12,391,868. 22.49% of the stock is owned by corporate 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.