Twin Securities Inc. Sells 28,858 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Twin Securities Inc. decreased its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 17.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 136,356 shares of the company’s stock after selling 28,858 shares during the period. HashiCorp accounts for 5.2% of Twin Securities Inc.’s portfolio, making the stock its 6th largest position. Twin Securities Inc. owned about 0.07% of HashiCorp worth $4,617,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of HCP. Verition Fund Management LLC acquired a new stake in HashiCorp during the third quarter worth about $13,427,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of HashiCorp by 4.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,513 shares of the company’s stock worth $9,363,000 after purchasing an additional 12,246 shares during the period. MetLife Investment Management LLC increased its position in HashiCorp by 43.8% during the 3rd quarter. MetLife Investment Management LLC now owns 7,491 shares of the company’s stock worth $254,000 after purchasing an additional 2,282 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in HashiCorp by 15.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,118,478 shares of the company’s stock valued at $37,872,000 after buying an additional 149,978 shares during the period. Finally, Longfellow Investment Management Co. LLC acquired a new position in HashiCorp during the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Insider Activity at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,903 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $33.90, for a total value of $1,217,111.70. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,528,000. This represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ledger Susan St. sold 22,232 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $752,330.88. Following the completion of the sale, the insider now owns 167,747 shares in the company, valued at approximately $5,676,558.48. This trade represents a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 366,208 shares of company stock worth $12,391,868 in the last 90 days. 22.49% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. StockNews.com initiated coverage on HashiCorp in a report on Friday. They issued a “hold” rating for the company. Citigroup began coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.08.

HashiCorp Stock Performance

Shares of HCP opened at $33.62 on Friday. HashiCorp, Inc. has a one year low of $19.26 and a one year high of $34.21. The stock has a 50-day moving average price of $33.85 and a 200 day moving average price of $33.70. The company has a market capitalization of $6.82 billion, a P/E ratio of -44.83 and a beta of 1.24.

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