Artemis Investment Management LLP Has $14.92 Million Stock Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Artemis Investment Management LLP lessened its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP) by 71.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 442,925 shares of the company’s stock after selling 1,112,179 shares during the period. Artemis Investment Management LLP owned approximately 0.22% of HashiCorp worth $14,922,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after acquiring an additional 961 shares during the period. Covestor Ltd increased its stake in HashiCorp by 12,888.9% during the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after acquiring an additional 3,480 shares during the period. Industry Ventures L.L.C. bought a new position in HashiCorp during the fourth quarter valued at about $157,000. CWM LLC increased its stake in HashiCorp by 311.1% during the second quarter. CWM LLC now owns 8,127 shares of the company’s stock valued at $274,000 after acquiring an additional 6,150 shares during the period. Finally, Entropy Technologies LP bought a new stake in shares of HashiCorp in the 1st quarter valued at approximately $311,000. 87.83% of the stock is currently owned by institutional investors.

Insider Activity at HashiCorp

In related news, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total value of $1,598,309.30. Following the completion of the sale, the chief executive officer now owns 373,330 shares in the company, valued at approximately $12,416,955.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.26, for a total transaction of $1,598,309.30. Following the completion of the transaction, the chief executive officer now owns 373,330 shares in the company, valued at approximately $12,416,955.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $33.71, for a total value of $1,210,323.84. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,239,200. The disclosure for this sale can be found here. Insiders sold a total of 392,820 shares of company stock worth $13,143,824 in the last quarter. Corporate insiders own 22.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial reiterated a “hold” rating and issued a $35.00 price objective (up from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. Bank of America increased their price target on HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Piper Sandler increased their price target on HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. William Blair lowered HashiCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 24th. Finally, BTIG Research lowered HashiCorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 24th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.17.

HashiCorp Price Performance

Shares of HCP stock traded up $0.01 during trading hours on Monday, reaching $33.68. The company had a trading volume of 1,107,546 shares, compared to its average volume of 3,547,155. The company has a 50 day moving average of $33.60 and a 200 day moving average of $29.62. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of -35.05 and a beta of 1.25. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $34.05.

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

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.