Centiva Capital LP Lowers Stake in HashiCorp, Inc. (NASDAQ:HCP)

Centiva Capital LP decreased its position in HashiCorp, Inc. (NASDAQ:HCP) by 26.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 276,131 shares of the company’s stock after selling 97,533 shares during the quarter. HashiCorp accounts for approximately 0.2% of Centiva Capital LP’s portfolio, making the stock its 29th largest position. Centiva Capital LP owned about 0.14% of HashiCorp worth $9,350,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in HashiCorp by 5.1% during the first quarter. California State Teachers Retirement System now owns 111,076 shares of the company’s stock worth $2,993,000 after purchasing an additional 5,372 shares during the period. Comerica Bank lifted its holdings in HashiCorp by 2.1% during the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after buying an additional 374 shares in the last quarter. Cetera Advisors LLC acquired a new stake in HashiCorp during the 1st quarter worth approximately $379,000. CWM LLC grew its stake in shares of HashiCorp by 311.1% in the second quarter. CWM LLC now owns 8,127 shares of the company’s stock worth $274,000 after acquiring an additional 6,150 shares in the last quarter. Finally, Renaissance Capital LLC grew its stake in shares of HashiCorp by 35.1% in the second quarter. Renaissance Capital LLC now owns 86,426 shares of the company’s stock worth $2,912,000 after acquiring an additional 22,462 shares in the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

HashiCorp Stock Up 0.1 %

NASDAQ HCP opened at $33.62 on Monday. The business’s 50-day moving average price is $33.85 and its 200 day moving average price is $33.71. The firm has a market cap of $6.82 billion, a P/E ratio of -44.83 and a beta of 1.24. HashiCorp, Inc. has a 52-week low of $19.26 and a 52-week high of $34.21.

HashiCorp (NASDAQ:HCP) last announced its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The company had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. During the same period last year, the business posted ($0.34) EPS. The company’s revenue was up 15.3% on a year-over-year basis. As a group, analysts anticipate that HashiCorp, Inc. will post -0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CMO Marc Holmes sold 11,854 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $401,139.36. Following the completion of the transaction, the chief marketing officer now directly owns 22,536 shares of the company’s stock, valued at $762,618.24. This represents a 34.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $33.83, for a total value of $1,214,632.32. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,421,600. This represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 366,208 shares of company stock valued at $12,391,868 over the last three months. 22.49% of the stock is currently owned by company insiders.

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.