ING Groep NV Grows Stake in HashiCorp, Inc. (NASDAQ:HCP)

ING Groep NV boosted its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP) by 851.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,671,200 shares of the company’s stock after buying an additional 1,495,500 shares during the period. ING Groep NV owned approximately 0.82% of HashiCorp worth $56,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in HashiCorp by 14.0% in the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after acquiring an additional 1,501,953 shares in the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of HashiCorp by 293.2% in the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after purchasing an additional 3,404,557 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its holdings in shares of HashiCorp by 53.3% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after purchasing an additional 1,161,600 shares in the last quarter. Pentwater Capital Management LP bought a new position in shares of HashiCorp during the 2nd quarter valued at about $91,654,000. Finally, Magnetar Financial LLC purchased a new position in shares of HashiCorp during the 2nd quarter valued at about $71,490,000. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,467,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,467,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Marc Holmes sold 13,782 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $33.81, for a total transaction of $465,969.42. Following the transaction, the chief marketing officer now directly owns 8,754 shares of the company’s stock, valued at $295,972.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 371,209 shares of company stock valued at $12,559,456 over the last three months. Corporate insiders own 22.49% of the company’s stock.

HashiCorp Trading Down 0.1 %

Shares of HCP stock traded down $0.05 during trading hours on Thursday, reaching $33.95. The company’s stock had a trading volume of 397,590 shares, compared to its average volume of 3,033,764. HashiCorp, Inc. has a one year low of $19.26 and a one year high of $34.21. The stock has a market capitalization of $6.89 billion, a P/E ratio of -45.28 and a beta of 1.24. The firm’s fifty day simple moving average is $33.87 and its 200 day simple moving average is $33.63.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results 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 business had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter in the previous year, the business posted ($0.34) earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities research analysts forecast that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on HCP. StockNews.com began coverage on shares of HashiCorp in a research report on Monday. They set a “hold” rating on the stock. Citigroup assumed coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. Piper Sandler restated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.