Ieq Capital LLC Lowers Stock Position in HashiCorp, Inc. (NASDAQ:HCP)

Ieq Capital LLC lessened its holdings in HashiCorp, Inc. (NASDAQ:HCP) by 56.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 312,476 shares of the company’s stock after selling 402,834 shares during the quarter. Ieq Capital LLC’s holdings in HashiCorp were worth $10,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Westchester Capital Management LLC lifted its position in shares of HashiCorp by 60.5% during the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock valued at $108,363,000 after acquiring an additional 1,206,073 shares during the period. Geode Capital Management LLC lifted its position in shares of HashiCorp by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after acquiring an additional 385,118 shares during the period. State Street Corp lifted its position in shares of HashiCorp by 14.5% during the 3rd quarter. State Street Corp now owns 2,239,850 shares of the company’s stock valued at $75,841,000 after acquiring an additional 282,965 shares during the period. Alpine Associates Management Inc. lifted its position in shares of HashiCorp by 48.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after acquiring an additional 701,350 shares during the period. Finally, ING Groep NV lifted its position in shares of HashiCorp by 851.2% during the 3rd quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock valued at $56,587,000 after acquiring an additional 1,495,500 shares during the period. Hedge funds and other institutional investors own 86.25% of the company’s stock.

Insider Activity

In related news, CTO Armon Dadgar sold 17,800 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the completion of the sale, the chief technology officer now directly owns 31,348 shares of the company’s stock, valued at approximately $1,073,042.04. This represents a 36.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Mcjannet sold 47,526 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the sale, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,132 shares of company stock valued at $4,658,368 in the last ninety days. Company insiders own 22.49% of the company’s stock.

HashiCorp Stock Performance

Shares of HCP opened at $34.47 on Thursday. The stock has a fifty day moving average of $34.22 and a two-hundred day moving average of $33.96. The company has a market capitalization of $7.05 billion, a PE ratio of -56.51 and a beta of 1.18. HashiCorp, Inc. has a fifty-two week low of $21.50 and a fifty-two week high of $34.53.

Analyst Ratings Changes

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

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.