HashiCorp, Inc. (NASDAQ:HCP) Position Lowered by Brighton Jones LLC

Brighton Jones LLC reduced its position in HashiCorp, Inc. (NASDAQ:HCP) by 39.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 31,067 shares of the company’s stock after selling 20,134 shares during the period. Brighton Jones LLC’s holdings in HashiCorp were worth $1,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC bought a new stake in shares of HashiCorp during the 3rd quarter valued at about $38,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HashiCorp during the 3rd quarter worth approximately $51,000. KBC Group NV lifted its holdings in shares of HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after purchasing an additional 731 shares during the last quarter. Quest Partners LLC boosted its position in HashiCorp by 64.8% during the 3rd quarter. Quest Partners LLC now owns 5,837 shares of the company’s stock valued at $198,000 after purchasing an additional 2,296 shares during the period. Finally, Townsend Asset Management Corp NC ADV bought a new position in HashiCorp during the 3rd quarter worth $205,000. Institutional investors and hedge funds own 86.25% of the company’s stock.

Insider Buying and Selling at HashiCorp

In related news, CEO David Mcjannet sold 47,526 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the sale, the chief executive officer now directly owns 465,978 shares in the company, valued at $15,945,767.16. The trade was a 9.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,467,200. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,036 shares of company stock valued at $5,874,078. 22.49% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HCP. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com raised shares of HashiCorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Price Performance

HashiCorp stock opened at $34.25 on Friday. HashiCorp, Inc. has a 12-month low of $21.50 and a 12-month high of $34.47. The stock has a market capitalization of $7.00 billion, a PE ratio of -56.15 and a beta of 1.18. The firm has a 50 day simple moving average of $34.02 and a 200-day simple moving average of $33.87.

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.