HashiCorp, Inc. (NASDAQ:HCP) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich cut its position in HashiCorp, Inc. (NASDAQ:HCP) by 37.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,418 shares of the company’s stock after selling 13,364 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in HashiCorp were worth $530,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HCP. TimesSquare Capital Management LLC acquired a new stake in shares of HashiCorp in the 3rd quarter valued at about $55,774,000. Atreides Management LP purchased a new stake in HashiCorp during the 3rd quarter valued at approximately $31,413,000. Federated Hermes Inc. raised its stake in HashiCorp by 38.0% during the 3rd quarter. Federated Hermes Inc. now owns 1,817,800 shares of the company’s stock valued at $41,500,000 after acquiring an additional 500,400 shares during the last quarter. Vanguard Group Inc. raised its stake in HashiCorp by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after acquiring an additional 455,179 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in HashiCorp during the 4th quarter valued at approximately $7,124,000. 87.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $23.02, for a total transaction of $826,510.08. Following the sale, the chief technology officer now owns 1,804,780 shares in the company, valued at approximately $41,546,035.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Sigal Zarmi sold 4,350 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total transaction of $130,500.00. Following the sale, the director now owns 37,991 shares in the company, valued at $1,139,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $23.02, for a total value of $826,510.08. Following the sale, the chief technology officer now owns 1,804,780 shares in the company, valued at approximately $41,546,035.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,427 shares of company stock worth $6,728,242. 26.13% of the stock is owned by insiders.

HashiCorp Stock Down 0.7 %

NASDAQ HCP opened at $32.59 on Friday. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $36.39. The business has a 50 day moving average price of $26.08 and a 200 day moving average price of $23.45.

HashiCorp (NASDAQ:HCP) last announced its earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. The firm had revenue of $155.78 million for the quarter, compared to analysts’ expectations of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. On average, analysts predict that HashiCorp, Inc. will post -0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Scotiabank reaffirmed a “sector perform” rating and set a $35.00 price objective (up from $31.00) on shares of HashiCorp in a research note on Thursday. TD Cowen upped their price objective on HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of HashiCorp in a research note on Thursday. Stifel Nicolaus upped their price objective on HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Piper Sandler increased their target price on HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, HashiCorp presently has a consensus rating of “Hold” and a consensus target price of $30.77.

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.