First Trust Advisors LP Sells 267,469 Shares of HashiCorp, Inc. (NASDAQ:HCP)

First Trust Advisors LP reduced its stake in HashiCorp, Inc. (NASDAQ:HCP) by 40.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 392,279 shares of the company’s stock after selling 267,469 shares during the period. First Trust Advisors LP’s holdings in HashiCorp were worth $13,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in HashiCorp by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 11,913 shares of the company’s stock valued at $408,000 after buying an additional 397 shares during the period. Sterling Capital Management LLC boosted its stake in HashiCorp by 16.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,627 shares of the company’s stock valued at $124,000 after buying an additional 524 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in HashiCorp by 9.0% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 9,226 shares of the company’s stock valued at $316,000 after buying an additional 765 shares during the period. Xponance Inc. boosted its stake in HashiCorp by 5.8% during the fourth quarter. Xponance Inc. now owns 16,261 shares of the company’s stock valued at $556,000 after buying an additional 897 shares during the period. Finally, Arizona State Retirement System boosted its stake in HashiCorp by 3.7% during the fourth quarter. Arizona State Retirement System now owns 43,267 shares of the company’s stock valued at $1,480,000 after buying an additional 1,561 shares during the period. Institutional investors own 86.25% of the company’s stock.

HashiCorp Price Performance

NASDAQ HCP opened at $34.78 on Monday. The stock’s 50-day simple moving average is $34.76 and its two-hundred day simple moving average is $34.28. HashiCorp, Inc. has a twelve month low of $32.42 and a twelve month high of $34.85. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on HashiCorp in a research report on Friday. They set a “hold” rating on the stock.

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.