GGV Capital LLC Grows Position in HashiCorp, Inc. (NASDAQ:HCP)

GGV Capital LLC raised its holdings in HashiCorp, Inc. (NASDAQ:HCPFree Report) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 658,990 shares of the company’s stock after buying an additional 29,064 shares during the period. HashiCorp comprises approximately 15.5% of GGV Capital LLC’s investment portfolio, making the stock its 2nd biggest holding. GGV Capital LLC owned approximately 0.34% of HashiCorp worth $15,579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TimesSquare Capital Management LLC bought a new position in shares of HashiCorp during the third quarter worth approximately $55,774,000. Atreides Management LP bought a new position in shares of HashiCorp during the third quarter worth approximately $31,413,000. Optimus Prime Fund Management Co. Ltd. increased its stake in shares of HashiCorp by 50.0% during the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after purchasing an additional 949,100 shares during the period. First Trust Advisors LP increased its stake in shares of HashiCorp by 35.7% during the fourth quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock worth $64,350,000 after purchasing an additional 716,574 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of HashiCorp by 38.0% during the third quarter. Federated Hermes Inc. now owns 1,817,800 shares of the company’s stock worth $41,500,000 after purchasing an additional 500,400 shares during the period. Institutional investors own 87.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HCP. StockNews.com began coverage on HashiCorp in a research note on Saturday, June 8th. They set a “hold” rating on the stock. Truist Financial reissued a “hold” rating and set a $35.00 price target (up previously from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. Stifel Nicolaus increased their price target on HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. 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. Finally, BTIG Research downgraded HashiCorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 24th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, HashiCorp has an average rating of “Hold” and a consensus target price of $31.17.

View Our Latest Analysis on HCP

HashiCorp Stock Down 0.9 %

Shares of HCP stock traded down $0.30 during trading hours on Thursday, reaching $33.69. The company’s stock had a trading volume of 8,455,866 shares, compared to its average volume of 3,686,458. The firm’s 50 day simple moving average is $30.93 and its 200-day simple moving average is $26.37. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of -35.11 and a beta of 1.25. HashiCorp, Inc. has a fifty-two week low of $18.91 and a fifty-two week high of $34.05.

Insider Activity at HashiCorp

In related news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $25.69, for a total transaction of $922,373.76. Following the sale, the chief technology officer now owns 1,661,164 shares of the company’s stock, valued at approximately $42,675,303.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Navam Welihinda sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $27.84, for a total transaction of $83,520.00. Following the completion of the transaction, the chief financial officer now directly owns 93,925 shares of the company’s stock, valued at approximately $2,614,872. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $25.69, for a total value of $922,373.76. Following the transaction, the chief technology officer now directly owns 1,661,164 shares of the company’s stock, valued at $42,675,303.16. The disclosure for this sale can be found here. Insiders have sold a total of 298,331 shares of company stock valued at $8,744,659 in the last 90 days. 22.49% of the stock is owned by corporate insiders.

About HashiCorp

(Free Report)

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.

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Institutional Ownership by Quarter for HashiCorp (NASDAQ:HCP)

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