ClearAlpha Technologies LP Buys 56,392 Shares of HashiCorp, Inc. (NASDAQ:HCP)

ClearAlpha Technologies LP grew its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 26.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 265,768 shares of the company’s stock after acquiring an additional 56,392 shares during the period. HashiCorp comprises about 2.5% of ClearAlpha Technologies LP’s holdings, making the stock its 4th biggest position. ClearAlpha Technologies LP’s holdings in HashiCorp were worth $8,999,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HCP. Longfellow Investment Management Co. LLC purchased a new position in HashiCorp during the 3rd quarter valued at about $38,000. American Capital Advisory LLC acquired a new stake in HashiCorp during the 2nd quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in HashiCorp during the third quarter worth $51,000. Quest Partners LLC increased its position in HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after acquiring an additional 731 shares during the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Wall Street Analysts Forecast Growth

HCP has been the subject of a number of recent research reports. Piper Sandler reiterated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup assumed coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. StockNews.com began coverage on shares of HashiCorp in a research note on Friday. They set a “hold” rating on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Trading Up 0.1 %

Shares of HashiCorp stock opened at $33.62 on Monday. The stock has a market capitalization of $6.82 billion, a P/E ratio of -44.83 and a beta of 1.24. The business’s fifty day moving average price is $33.85 and its 200 day moving average price is $33.71. HashiCorp, Inc. has a twelve month low of $19.26 and a twelve month high of $34.21.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.34) EPS. As a group, sell-side analysts predict that HashiCorp, Inc. will post -0.48 EPS for the current year.

Insiders Place Their Bets

In other news, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the completion of the sale, the chief executive officer now owns 419,531 shares of the company’s stock, valued at $14,196,929.04. This represents a 10.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $33.83, for a total value of $1,214,632.32. Following the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,421,600. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 366,208 shares of company stock worth $12,391,868 over the last ninety days. 22.49% of the stock is owned by company insiders.

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.