Peregrine Capital Management LLC Sells 47,130 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Peregrine Capital Management LLC lessened its stake in HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 15.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 256,395 shares of the company's stock after selling 47,130 shares during the quarter. Peregrine Capital Management LLC owned 0.13% of HashiCorp worth $6,061,000 at the end of the most recent quarter.

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

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $25.69, for a total value of $922,373.76. Following the completion of the sale, the chief technology officer now directly owns 1,661,164 shares in the company, valued at $42,675,303.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $25.69, for a total value of $922,373.76. Following the completion of the sale, the chief technology officer now directly owns 1,661,164 shares in the company, valued at $42,675,303.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Marc Holmes sold 8,009 shares of HashiCorp stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $27.38, for a total transaction of $219,286.42. Following the completion of the sale, the chief marketing officer now owns 14,767 shares of the company's stock, valued at $404,320.46. The disclosure for this sale can be found here. Insiders sold 248,661 shares of company stock worth $6,118,014 over the last ninety days. 26.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HCP. Oppenheimer restated an "outperform" rating and set a $34.00 target price on shares of HashiCorp in a report on Wednesday, March 6th. Bank of America raised their target price on shares of HashiCorp from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday, March 6th. Citigroup raised their target price on shares of HashiCorp from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Monday, January 22nd. Scotiabank raised shares of HashiCorp from a "sector perform" rating to a "sector outperform" rating and set a $31.00 price target on the stock in a research note on Tuesday, March 12th. Finally, BTIG Research raised their price target on shares of HashiCorp from $25.00 to $27.00 and gave the stock a "buy" rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $28.77.

HashiCorp Stock Down 0.9 %

HashiCorp stock traded down $0.25 during midday trading on Thursday, hitting $26.10. The company's stock had a trading volume of 1,360,711 shares, compared to its average volume of 2,357,070. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $36.39. The company has a market capitalization of $5.21 billion, a PE ratio of -26.63 and a beta of 1.42. The stock's 50-day moving average price is $25.44 and its 200-day moving average price is $23.14.

HashiCorp (NASDAQ:HCP - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.06. The business had revenue of $155.78 million during the quarter, compared to analysts' expectations of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. As a group, equities analysts anticipate that HashiCorp, Inc. will post -0.8 EPS for the current year.

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.