CloudAlpha Capital Management Limited Hong Kong Makes New $2.58 Million Investment in HashiCorp, Inc. (NASDAQ:HCP)

CloudAlpha Capital Management Limited Hong Kong purchased a new position in HashiCorp, Inc. (NASDAQ:HCP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 109,005 shares of the company's stock, valued at approximately $2,577,000. HashiCorp makes up about 0.2% of CloudAlpha Capital Management Limited Hong Kong's investment portfolio, making the stock its 26th biggest holding. CloudAlpha Capital Management Limited Hong Kong owned 0.06% of HashiCorp as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Geneos Wealth Management Inc. acquired a new position in HashiCorp in the first quarter worth approximately $33,000. Citigroup Inc. grew its holdings in HashiCorp by 167.6% during the fourth quarter. Citigroup Inc. now owns 918 shares of the company's stock valued at $25,000 after purchasing an additional 575 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in HashiCorp during the first quarter valued at approximately $50,000. Tower Research Capital LLC TRC grew its holdings in HashiCorp by 82.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company's stock valued at $39,000 after purchasing an additional 766 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. acquired a new position in HashiCorp during the fourth quarter valued at approximately $47,000. 87.83% of the stock is owned by hedge funds and other institutional investors.

HashiCorp Stock Performance

HCP traded down $0.13 during midday trading on Wednesday, reaching $23.53. 1,211,660 shares of the company were exchanged, compared to its average volume of 2,315,921. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $36.39. The stock has a market capitalization of $4.70 billion, a P/E ratio of -24.01 and a beta of 1.42. The stock's 50-day simple moving average is $25.51 and its 200 day simple moving average is $23.17.

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

Wall Street Analyst Weigh In

Several brokerages have commented on HCP. Morgan Stanley upgraded HashiCorp from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $23.00 to $30.00 in a report on Monday, February 26th. Stifel Nicolaus increased their price objective on HashiCorp from $26.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Scotiabank raised HashiCorp from a "sector perform" rating to a "sector outperform" rating and set a $31.00 price objective for the company in a research report on Tuesday, March 12th. KeyCorp initiated coverage on HashiCorp in a research report on Tuesday, March 19th. They issued a "sector weight" rating for the company. Finally, Oppenheimer restated an "outperform" rating and issued a $34.00 target price on shares of HashiCorp in a research note on Wednesday, March 6th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $28.77.

Insiders Place Their Bets

In other news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $21.82, for a total transaction of $783,425.28. Following the transaction, the chief technology officer now owns 1,768,876 shares in the company, valued at approximately $38,596,874.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Marc Holmes sold 13,916 shares of the business's stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $26.30, for a total transaction of $365,990.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $21.82, for a total value of $783,425.28. Following the transaction, the chief technology officer now directly owns 1,768,876 shares in the company, valued at $38,596,874.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,577 shares of company stock worth $6,484,004. Insiders own 26.13% of the company's 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.