TimesSquare Capital Management LLC Sells 417,065 Shares of HashiCorp, Inc. (NASDAQ:HCP)

TimesSquare Capital Management LLC decreased its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP) by 15.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,280,681 shares of the company’s stock after selling 417,065 shares during the period. TimesSquare Capital Management LLC owned approximately 1.14% of HashiCorp worth $61,464,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Industry Ventures L.L.C. purchased a new stake in shares of HashiCorp in the fourth quarter valued at about $157,000. SVB Wealth LLC purchased a new stake in shares of HashiCorp in the fourth quarter valued at about $273,000. Aristides Capital LLC purchased a new stake in shares of HashiCorp in the fourth quarter valued at about $286,000. Victory Capital Management Inc. raised its holdings in shares of HashiCorp by 28.8% in the fourth quarter. Victory Capital Management Inc. now owns 13,622 shares of the company’s stock valued at $322,000 after purchasing an additional 3,046 shares during the last quarter. Finally, Oracle Alpha Inc. purchased a new stake in shares of HashiCorp in the fourth quarter valued at about $372,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on HCP shares. Scotiabank restated a “sector perform” rating and set a $35.00 price objective (up previously from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. StockNews.com started coverage on shares of HashiCorp in a report on Monday, July 8th. They set a “hold” rating for the company. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Thursday, June 6th. Needham & Company LLC restated a “hold” rating on shares of HashiCorp in a report on Thursday, April 25th. Finally, Bank of America raised their price objective on shares of HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.17.

Insider Activity

In other news, insider Ledger Susan St. sold 22,366 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total value of $743,893.16. Following the completion of the transaction, the insider now directly owns 143,072 shares in the company, valued at $4,758,574.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Ledger Susan St. sold 22,366 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total value of $743,893.16. Following the sale, the insider now directly owns 143,072 shares of the company’s stock, valued at $4,758,574.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $33.46, for a total transaction of $465,629.36. Following the completion of the sale, the chief marketing officer now directly owns 4,368 shares in the company, valued at $146,153.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 395,170 shares of company stock worth $12,824,841. 22.49% of the stock is owned by company insiders.

HashiCorp Trading Up 0.4 %

Shares of HCP stock traded up $0.12 during trading hours on Friday, reaching $33.73. The stock had a trading volume of 2,772,832 shares, compared to its average volume of 2,834,941. The stock’s fifty day simple moving average is $33.42 and its 200 day simple moving average is $28.01. HashiCorp, Inc. has a 12 month low of $18.91 and a 12 month high of $34.05. The firm has a market capitalization of $6.78 billion, a PE ratio of -35.14 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. The company had revenue of $160.58 million during the quarter, compared to analyst estimates of $153.39 million. As a group, equities research analysts anticipate that HashiCorp, Inc. will post -0.8 EPS for the current fiscal year.

HashiCorp Company 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.