Summit Trail Advisors LLC Decreases Stock Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Summit Trail Advisors LLC lessened its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 63.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 93,468 shares of the company's stock after selling 164,008 shares during the quarter. Summit Trail Advisors LLC's holdings in HashiCorp were worth $2,210,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Xponance Inc. boosted its holdings in shares of HashiCorp by 6.7% during the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company's stock valued at $244,000 after purchasing an additional 673 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in HashiCorp by 10.5% during the third quarter. Bank of New York Mellon Corp now owns 337,516 shares of the company's stock valued at $7,705,000 after buying an additional 32,006 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in HashiCorp by 19.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,596 shares of the company's stock worth $1,589,000 after acquiring an additional 11,278 shares during the last quarter. Sycomore Asset Management bought a new stake in HashiCorp in the 3rd quarter worth approximately $2,277,000. Finally, Perigon Wealth Management LLC raised its holdings in shares of HashiCorp by 81.7% during the 3rd quarter. Perigon Wealth Management LLC now owns 73,454 shares of the company's stock worth $1,677,000 after acquiring an additional 33,037 shares in the last quarter. 87.83% of the stock is owned by hedge funds and other institutional investors.

HashiCorp Price Performance

Shares of NASDAQ:HCP traded up $0.01 during trading on Tuesday, reaching $32.80. 3,707,425 shares of the company were exchanged, compared to its average volume of 3,614,637. The business's fifty day simple moving average is $27.38 and its 200-day simple moving average is $24.02. HashiCorp, Inc. has a 12-month low of $18.91 and a 12-month high of $36.39. The firm has a market capitalization of $6.54 billion, a PE ratio of -33.47 and a beta of 1.25.

HashiCorp (NASDAQ:HCP - Get Free Report) last posted its quarterly 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. The business had revenue of $155.78 million for the quarter, compared to the consensus estimate of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. On average, sell-side analysts anticipate that HashiCorp, Inc. will post -0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 35,904 shares of the firm's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $32.72, for a total transaction of $1,174,778.88. Following the sale, the chief technology officer now owns 1,589,356 shares of the company's stock, valued at $52,003,728.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $32.72, for a total transaction of $1,174,778.88. Following the completion of the sale, the chief technology officer now owns 1,589,356 shares of the company's stock, valued at $52,003,728.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ledger Susan St. sold 17,895 shares of the firm'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 transaction of $490,144.05. Following the completion of the sale, the insider now owns 121,702 shares of the company's stock, valued at $3,333,417.78. The disclosure for this sale can be found here. Insiders sold a total of 267,427 shares of company stock worth $7,076,511 over the last 90 days. Company insiders own 26.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HCP. KeyCorp started coverage on HashiCorp in a research report on Tuesday, March 19th. They issued a "sector weight" rating for the company. Truist Financial reissued a "hold" rating and set a $35.00 target price (up previously from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. Oppenheimer restated an "outperform" rating and set a $34.00 price target on shares of HashiCorp in a report on Wednesday, March 6th. JMP Securities reaffirmed a "market outperform" rating and set a $38.00 price objective on shares of HashiCorp in a research note on Thursday, March 7th. Finally, Stifel Nicolaus increased their target price on shares of HashiCorp from $26.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.77.

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.