HashiCorp, Inc. (NASDAQ:HCP) Position Raised by Glynn Capital Management LLC

Glynn Capital Management LLC grew its stake in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 596,000 shares of the company's stock after acquiring an additional 60,562 shares during the quarter. HashiCorp comprises approximately 2.6% of Glynn Capital Management LLC's investment portfolio, making the stock its 15th largest holding. Glynn Capital Management LLC owned about 0.30% of HashiCorp worth $14,089,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. increased its holdings in HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company's stock worth $54,000 after buying an additional 615 shares during the period. Xponance Inc. grew its stake in shares of HashiCorp by 6.7% during the 3rd 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. Oppenheimer & Co. Inc. grew its stake in shares of HashiCorp by 8.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,302 shares of the company's stock worth $281,000 after purchasing an additional 918 shares during the period. Principal Financial Group Inc. grew its stake in shares of HashiCorp by 10.0% during the 3rd 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, State Board of Administration of Florida Retirement System grew its stake in shares of HashiCorp by 5.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 28,010 shares of the company's stock worth $639,000 after purchasing an additional 1,410 shares during the period. Institutional investors and hedge funds own 87.83% of the company's stock.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $21.84, for a total value of $54,600.00. Following the completion of the sale, the chief financial officer now owns 62,844 shares in the company, valued at $1,372,512.96. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Ledger Susan St. sold 17,895 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $27.39, for a total value of $490,144.05. Following the transaction, the insider now owns 121,702 shares of the company's stock, valued at $3,333,417.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Navam Welihinda sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total value of $54,600.00. Following the completion of the transaction, the chief financial officer now directly owns 62,844 shares in the company, valued at approximately $1,372,512.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 267,427 shares of company stock worth $6,728,242. 26.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup increased their target price on HashiCorp from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Monday, January 22nd. Oppenheimer reiterated an "outperform" rating and set a $34.00 target price on shares of HashiCorp in a research report on Wednesday, March 6th. JMP Securities reiterated a "market outperform" rating and set a $38.00 target price on shares of HashiCorp in a research report on Thursday, March 7th. Bank of America increased their target price on HashiCorp from $28.00 to $32.00 and gave the company a "neutral" rating in a research report on Wednesday, April 24th. Finally, Piper Sandler raised their price objective on HashiCorp from $25.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, April 25th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, HashiCorp currently has a consensus rating of "Hold" and an average price target of $30.77.

HashiCorp Stock Performance

Shares of HCP traded up $0.16 during midday trading on Wednesday, hitting $32.62. The company had a trading volume of 6,623,407 shares, compared to its average volume of 3,532,770. The company's 50-day simple moving average is $26.65 and its 200-day simple moving average is $23.68. The firm has a market capitalization of $6.51 billion, a P/E ratio of -33.29 and a beta of 1.42. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $36.39.

HashiCorp (NASDAQ:HCP - Get Free Report) last posted its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping 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%. Equities analysts predict that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

HashiCorp 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.