Entropy Technologies LP Boosts Stock Position in HashiCorp, Inc. (NASDAQ:HCP)

Entropy Technologies LP raised its position in HashiCorp, Inc. (NASDAQ:HCP) by 20.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,672 shares of the company’s stock after purchasing an additional 1,637 shares during the period. Entropy Technologies LP’s holdings in HashiCorp were worth $327,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Whale Rock Capital Management LLC increased its stake in HashiCorp by 293.2% in the first quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock valued at $123,046,000 after purchasing an additional 3,404,557 shares during the last quarter. Pentwater Capital Management LP purchased a new position in shares of HashiCorp during the 2nd quarter worth about $91,654,000. Magnetar Financial LLC acquired a new stake in shares of HashiCorp in the second quarter worth approximately $71,490,000. Champlain Investment Partners LLC purchased a new stake in HashiCorp in the first quarter valued at approximately $48,995,000. Finally, Vanguard Group Inc. increased its position in HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after purchasing an additional 1,501,953 shares during the last quarter. 87.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at HashiCorp

In other news, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the transaction, the chief financial officer now owns 88,322 shares in the company, valued at approximately $2,991,466.14. This trade represents a 5.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $33.85, for a total value of $1,215,350.40. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,452,000. This represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 371,209 shares of company stock valued at $12,559,456 over the last ninety days. Corporate insiders own 22.49% of the company’s stock.

HashiCorp Price Performance

Shares of HashiCorp stock opened at $33.74 on Friday. HashiCorp, Inc. has a 1-year low of $19.26 and a 1-year high of $34.21. The company has a market capitalization of $6.85 billion, a PE ratio of -44.99 and a beta of 1.24. The business has a 50-day moving average of $33.88 and a 200-day moving average of $33.64.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data 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 the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. HashiCorp’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) EPS. On average, equities analysts expect that HashiCorp, Inc. will post -0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.