Baillie Gifford & Co. Sells 319,811 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Baillie Gifford & Co. lowered its position in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,730,652 shares of the company's stock after selling 319,811 shares during the quarter. Baillie Gifford & Co. owned approximately 3.44% of HashiCorp worth $159,113,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in HCP. JPMorgan Chase & Co. grew its holdings in HashiCorp by 48.0% during the 1st quarter. JPMorgan Chase & Co. now owns 11,204,309 shares of the company's stock worth $328,175,000 after acquiring an additional 3,635,247 shares during the period. BlackRock Inc. grew its stake in shares of HashiCorp by 215.0% during the second quarter. BlackRock Inc. now owns 4,426,683 shares of the company's stock worth $115,891,000 after purchasing an additional 3,021,230 shares during the period. TimesSquare Capital Management LLC acquired a new stake in shares of HashiCorp during the third quarter worth $55,774,000. Price T Rowe Associates Inc. MD increased its holdings in HashiCorp by 26.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,435,341 shares of the company's stock valued at $312,642,000 after purchasing an additional 2,368,102 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in HashiCorp by 78.3% in the third quarter. Vanguard Group Inc. now owns 3,187,233 shares of the company's stock valued at $102,597,000 after buying an additional 1,400,042 shares during the period. Institutional investors and hedge funds own 87.83% of the company's stock.

Insider Activity

In other news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $21.94, for a total value of $787,733.76. Following the completion of the transaction, the chief technology officer now owns 1,840,684 shares of the company's stock, valued at approximately $40,384,606.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Navam Welihinda sold 2,500 shares of the business's stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.95, for a total transaction of $54,875.00. Following the transaction, the chief financial officer now directly owns 62,844 shares of the company's stock, valued at approximately $1,379,425.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $21.94, for a total value of $787,733.76. Following the completion of the sale, the chief technology officer now owns 1,840,684 shares in the company, valued at approximately $40,384,606.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 248,661 shares of company stock valued at $6,118,014. 26.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup increased their price target on shares of HashiCorp from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Monday, January 22nd. Piper Sandler reissued a "neutral" rating and set a $25.00 price target (up from $22.00) on shares of HashiCorp in a research report on Wednesday, March 6th. JMP Securities restated a "market outperform" rating and issued a $38.00 price objective on shares of HashiCorp in a research report on Thursday, March 7th. Scotiabank raised HashiCorp from a "sector perform" rating to a "sector outperform" rating and set a $31.00 price objective on the stock in a research note on Tuesday, March 12th. Finally, BTIG Research boosted their target price on HashiCorp from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $28.77.

HashiCorp Price Performance

NASDAQ:HCP traded down $0.62 on Wednesday, hitting $26.35. 1,350,096 shares of the company's stock were exchanged, compared to its average volume of 2,371,510. The company has a market cap of $5.26 billion, a P/E ratio of -27.52 and a beta of 1.42. The firm has a 50-day moving average price of $25.28 and a 200-day moving average price of $23.09. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $36.39.

HashiCorp (NASDAQ:HCP - Get Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.06. The firm had revenue of $155.78 million during 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, research analysts expect that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

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.