Victory Capital Management Inc. Buys 3,046 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Victory Capital Management Inc. increased its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP) by 28.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,622 shares of the company’s stock after purchasing an additional 3,046 shares during the quarter. Victory Capital Management Inc.’s holdings in HashiCorp were worth $322,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of HCP. TimesSquare Capital Management LLC bought a new stake in HashiCorp during the 3rd quarter worth approximately $55,774,000. Atreides Management LP bought a new stake in HashiCorp during the 3rd quarter worth approximately $31,413,000. Federated Hermes Inc. grew its stake in shares of HashiCorp by 38.0% during the 3rd quarter. Federated Hermes Inc. now owns 1,817,800 shares of the company’s stock worth $41,500,000 after acquiring an additional 500,400 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 455,179 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new position in shares of HashiCorp during the 4th quarter worth approximately $7,124,000. 87.83% of the stock is owned by institutional investors.

HashiCorp Price Performance

Shares of HashiCorp stock opened at $33.39 on Friday. The business has a fifty day simple moving average of $29.19 and a two-hundred day simple moving average of $25.19. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $36.39. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of -34.07 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results 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. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. The business had revenue of $155.78 million during the quarter, compared to the consensus estimate of $149.47 million. As a group, equities analysts anticipate that HashiCorp, Inc. will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HCP. BTIG Research cut shares of HashiCorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 24th. StockNews.com began coverage on shares of HashiCorp in a research note on Tuesday, May 21st. They set a “hold” rating for the company. Piper Sandler raised their price target on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Stifel Nicolaus raised their price target on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of HashiCorp in a report on Thursday, April 25th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, HashiCorp presently has a consensus rating of “Hold” and an average target price of $30.77.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 10,241 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.39, for a total transaction of $280,500.99. Following the completion of the sale, the chief technology officer now owns 144,820 shares of the company’s stock, valued at approximately $3,966,619.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other HashiCorp news, CFO Navam Welihinda sold 2,500 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $25.00, for a total transaction of $62,500.00. Following the transaction, the chief financial officer now owns 62,844 shares in the company, valued at approximately $1,571,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Armon Dadgar sold 10,241 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.39, for a total value of $280,500.99. Following the transaction, the chief technology officer now owns 144,820 shares in the company, valued at approximately $3,966,619.80. The disclosure for this sale can be found here. Insiders sold 251,011 shares of company stock valued at $7,129,464 in the last quarter. 22.49% of the stock is currently owned by insiders.

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.