New York State Common Retirement Fund Sells 162,198 Shares of HashiCorp, Inc. (NASDAQ:HCP)

New York State Common Retirement Fund cut its holdings in HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 63.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,710 shares of the company's stock after selling 162,198 shares during the period. New York State Common Retirement Fund's holdings in HashiCorp were worth $2,168,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. boosted 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 valued at $54,000 after purchasing an additional 615 shares during the period. Victory Capital Management Inc. boosted its holdings in HashiCorp by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company's stock valued at $241,000 after purchasing an additional 2,768 shares during the period. Xponance Inc. lifted 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 worth $244,000 after acquiring an additional 673 shares during the last quarter. Principal Financial Group Inc. grew its position in 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 acquiring an additional 978 shares in the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in HashiCorp in the third quarter worth $269,000. 87.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HCP shares. Morgan Stanley upgraded shares of HashiCorp from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $23.00 to $30.00 in a research report on Monday, February 26th. JMP Securities reissued a "market outperform" rating and issued a $38.00 price target on shares of HashiCorp in a research note on Thursday, March 7th. StockNews.com raised shares of HashiCorp from a "sell" rating to a "hold" rating in a research note on Friday, May 3rd. William Blair downgraded shares of HashiCorp from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 24th. Finally, Bank of America boosted their price target on shares of HashiCorp from $28.00 to $32.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 24th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, HashiCorp has an average rating of "Hold" and a consensus target price of $30.77.

Insiders Place Their Bets

In other HashiCorp news, CFO Navam Welihinda sold 2,500 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total value of $54,600.00. Following 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 filing with the SEC, which is available through the SEC website. In other news, CFO Navam Welihinda sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total transaction of $54,600.00. Following the sale, the chief financial officer now owns 62,844 shares in the company, valued at $1,372,512.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ledger Susan St. sold 17,895 shares of the 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 sale, the insider now owns 121,702 shares in the company, valued at approximately $3,333,417.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 267,427 shares of company stock worth $7,076,511. 26.13% of the stock is currently owned by company insiders.

HashiCorp Stock Up 0.0 %

Shares of NASDAQ:HCP traded up $0.01 during midday trading on Wednesday, hitting $32.81. 3,778,934 shares of the stock traded hands, compared to its average volume of 3,616,487. The stock has a market capitalization of $6.55 billion, a PE ratio of -33.48 and a beta of 1.25. The business's 50 day moving average is $27.50 and its two-hundred day moving average is $24.09. HashiCorp, Inc. has a one year low of $18.91 and a one year high of $36.39.

HashiCorp (NASDAQ:HCP - Get Free Report) last released 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. 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 the consensus estimate of $149.47 million. As a group, sell-side analysts forecast that HashiCorp, Inc. will post -0.8 earnings per share 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.