New York State Common Retirement Fund Trims Stock Position in HashiCorp, Inc. (NASDAQ:HCP)

New York State Common Retirement Fund decreased its holdings in HashiCorp, Inc. (NASDAQ:HCP) by 63.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,710 shares of the company’s stock after selling 162,198 shares during the quarter. New York State Common Retirement Fund’s holdings in HashiCorp were worth $2,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. increased its stake in HashiCorp by 35.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after acquiring an additional 615 shares during the last quarter. Victory Capital Management Inc. increased its position in HashiCorp by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after purchasing an additional 2,768 shares in the last quarter. Xponance Inc. raised its holdings in HashiCorp by 6.7% in the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after buying an additional 673 shares during the period. Principal Financial Group Inc. raised its holdings in HashiCorp by 10.0% in the third quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock valued at $246,000 after buying an additional 978 shares during the period. Finally, Mirabella Financial Services LLP acquired a new position in HashiCorp during the third quarter valued at approximately $269,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of HashiCorp in a research note on Thursday, April 25th. TD Cowen boosted their price objective on HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. StockNews.com upgraded HashiCorp from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. BTIG Research lowered HashiCorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 24th. Finally, William Blair downgraded shares of HashiCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 24th. 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 company has a consensus rating of “Hold” and a consensus price target of $30.77.

HashiCorp Price Performance

Shares of HCP stock opened at $32.80 on Wednesday. The firm has a market cap of $6.54 billion, a P/E ratio of -33.47 and a beta of 1.25. The firm has a fifty day moving average of $27.38 and a two-hundred day moving average of $24.02. HashiCorp, Inc. has a 1-year low of $18.91 and a 1-year high of $36.39.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.06. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. The firm had revenue of $155.78 million during the quarter, compared to analyst estimates of $149.47 million. On average, sell-side analysts expect that HashiCorp, Inc. will post -0.8 EPS for the current year.

Insider Activity at HashiCorp

In other HashiCorp news, Director Sigal Zarmi sold 4,350 shares of HashiCorp stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total value of $130,500.00. Following the completion of the transaction, the director now owns 37,991 shares of the company’s stock, valued at $1,139,730. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $21.82, for a total transaction of $783,425.28. Following the completion of the transaction, the chief technology officer now directly owns 1,768,876 shares of the company’s stock, valued at $38,596,874.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sigal Zarmi sold 4,350 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total value of $130,500.00. Following the sale, the director now owns 37,991 shares in the company, valued at $1,139,730. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 267,427 shares of company stock valued at $7,076,511. Corporate insiders own 26.13% of the company’s stock.

HashiCorp Company 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.