State of New Jersey Common Pension Fund D Has $2.78 Million Holdings in HashiCorp, Inc. (NASDAQ:HCP)

State of New Jersey Common Pension Fund D raised its stake in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 37.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,544 shares of the company's stock after buying an additional 31,807 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of HashiCorp worth $2,779,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. increased its stake in shares of HashiCorp by 35.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company's stock worth $54,000 after purchasing an additional 615 shares during the period. Victory Capital Management Inc. increased its stake in shares of HashiCorp by 35.5% in the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company's stock worth $241,000 after purchasing an additional 2,768 shares during the period. Xponance Inc. increased its stake in shares of HashiCorp by 6.7% in the third quarter. Xponance Inc. now owns 10,701 shares of the company's stock worth $244,000 after purchasing an additional 673 shares during the period. Principal Financial Group Inc. increased its stake in shares of HashiCorp by 10.0% in the third quarter. Principal Financial Group Inc. now owns 10,778 shares of the company's stock worth $246,000 after purchasing an additional 978 shares during the period. Finally, Mirabella Financial Services LLP bought a new position in shares of HashiCorp in the third quarter worth about $269,000. 87.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HCP shares. Morgan Stanley raised HashiCorp from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $23.00 to $30.00 in a research report on Monday, February 26th. Bank of America lifted their target price on HashiCorp from $28.00 to $32.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 24th. Stifel Nicolaus lifted their target price on HashiCorp from $26.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. TD Cowen lifted their target price on HashiCorp from $23.00 to $26.00 and gave the stock a "market perform" rating in a research report on Wednesday, March 6th. Finally, Piper Sandler lifted their target price on HashiCorp from $25.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, April 25th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $30.77.

Insider Buying and Selling

In related news, insider Ledger Susan St. sold 17,895 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total value of $490,144.05. Following the completion of the transaction, the insider now owns 121,702 shares in the company, valued at approximately $3,333,417.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other HashiCorp news, CEO David Mcjannet sold 33,331 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.38, for a total transaction of $912,602.78. Following the completion of the sale, the chief executive officer now owns 326,912 shares in the company, valued at approximately $8,950,850.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ledger Susan St. sold 17,895 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total transaction of $490,144.05. Following the sale, the insider now owns 121,702 shares of the company's stock, valued at approximately $3,333,417.78. The disclosure for this sale can be found here. Insiders sold 267,427 shares of company stock worth $6,728,242 in the last quarter. Insiders own 26.13% of the company's stock.

HashiCorp Price Performance

Shares of NASDAQ:HCP traded down $0.13 during trading on Tuesday, reaching $32.46. The stock had a trading volume of 5,846,724 shares, compared to its average volume of 3,491,649. HashiCorp, Inc. has a 52 week low of $18.91 and a 52 week high of $36.39. The business's 50-day moving average price is $26.45 and its 200 day moving average price is $23.62. The stock has a market capitalization of $6.48 billion, a PE ratio of -33.12 and a beta of 1.42.

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