Charles Schwab Investment Management Inc. Acquires 34,220 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Charles Schwab Investment Management Inc. raised its holdings in HashiCorp, Inc. (NASDAQ:HCP) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,019,276 shares of the company’s stock after buying an additional 34,220 shares during the period. Charles Schwab Investment Management Inc.’s holdings in HashiCorp were worth $34,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Amalgamated Bank increased its stake in shares of HashiCorp by 43.7% during the third quarter. Amalgamated Bank now owns 9,085 shares of the company’s stock worth $308,000 after purchasing an additional 2,762 shares during the period. Principal Financial Group Inc. increased its stake in shares of HashiCorp by 41.9% during the third quarter. Principal Financial Group Inc. now owns 11,516 shares of the company’s stock worth $390,000 after purchasing an additional 3,399 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of HashiCorp by 5.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,686 shares of the company’s stock worth $1,987,000 after purchasing an additional 3,118 shares during the period. Entropy Technologies LP increased its stake in shares of HashiCorp by 20.4% during the third quarter. Entropy Technologies LP now owns 9,672 shares of the company’s stock worth $327,000 after purchasing an additional 1,637 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of HashiCorp by 4.8% during the third quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock worth $646,000 after purchasing an additional 873 shares during the period. Institutional investors own 86.25% of the company’s stock.

HashiCorp Stock Performance

Shares of HCP opened at $34.78 on Monday. HashiCorp, Inc. has a 52 week low of $23.00 and a 52 week high of $34.85. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18. The stock has a fifty day moving average of $34.43 and a 200-day moving average of $34.08.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com raised HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.40.

Insider Activity

In other news, 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 completion of the transaction, the chief technology officer now directly owns 31,348 shares of the company’s stock, valued at approximately $1,073,042.04. This trade represents a 36.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. 22.49% of the stock is owned by corporate insiders.

About HashiCorp

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.