TimesSquare Capital Management LLC Grows Stock Position in HashiCorp, Inc. (NASDAQ:HCP)

TimesSquare Capital Management LLC raised its stake in shares of HashiCorp, Inc. (NASDAQ:HCP - Free Report) by 10.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,697,746 shares of the company's stock after buying an additional 254,720 shares during the period. TimesSquare Capital Management LLC owned about 1.38% of HashiCorp worth $63,775,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in HashiCorp by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company's stock worth $221,976,000 after buying an additional 455,179 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of HashiCorp by 16.2% during the fourth quarter. Federated Hermes Inc. now owns 2,112,284 shares of the company's stock valued at $49,934,000 after acquiring an additional 294,484 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of HashiCorp by 6.3% during the third quarter. Wellington Management Group LLP now owns 1,983,301 shares of the company's stock valued at $45,279,000 after acquiring an additional 117,625 shares during the last quarter. Atreides Management LP acquired a new position in shares of HashiCorp during the third quarter valued at approximately $31,413,000. Finally, Invesco Ltd. raised its holdings in shares of HashiCorp by 7.6% during the third quarter. Invesco Ltd. now owns 1,164,547 shares of the company's stock valued at $26,587,000 after acquiring an additional 82,719 shares during the last quarter. Hedge funds and other institutional investors own 87.83% of the company's stock.

HashiCorp Stock Performance

Shares of HCP traded down $0.05 during midday trading on Thursday, hitting $32.76. 3,265,787 shares of the stock were exchanged, compared to its average volume of 3,612,591. The firm has a market cap of $6.54 billion, a P/E ratio of -33.43 and a beta of 1.25. HashiCorp, Inc. has a 52-week low of $18.91 and a 52-week high of $36.39. The stock has a fifty day simple moving average of $27.64 and a 200 day simple moving average of $24.15.

HashiCorp (NASDAQ:HCP - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.06. The business had revenue of $155.78 million for 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%. As a group, equities research analysts forecast that HashiCorp, Inc. will post -0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other HashiCorp news, CEO David Mcjannet sold 33,331 shares of HashiCorp stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $27.38, for a total value of $912,602.78. Following the sale, the chief executive officer now owns 326,912 shares of the company's stock, valued at approximately $8,950,850.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David Mcjannet sold 33,331 shares of HashiCorp stock in a transaction that occurred 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 directly owns 326,912 shares in the company, valued at approximately $8,950,850.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $21.82, for a total transaction of $783,425.28. Following the sale, the chief technology officer now owns 1,768,876 shares of the company's stock, valued at $38,596,874.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 267,427 shares of company stock valued at $7,076,511. 26.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HCP has been the subject of a number of analyst reports. JMP Securities restated a "market outperform" rating and issued a $38.00 price target on shares of HashiCorp in a research report on Thursday, March 7th. Stifel Nicolaus upped their price target on HashiCorp from $26.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Piper Sandler upped their price target on HashiCorp from $25.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, April 25th. StockNews.com initiated coverage on HashiCorp in a research report on Thursday. They issued a "hold" rating for the company. Finally, Scotiabank reiterated a "sector perform" rating and issued a $35.00 price objective (up from $31.00) on shares of HashiCorp in a research report on Thursday, April 25th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $30.77.

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.

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