Cinctive Capital Management LP Has $17.46 Million Stock Holdings in HashiCorp, Inc. (NASDAQ:HCP)

Cinctive Capital Management LP increased its stake in HashiCorp, Inc. (NASDAQ:HCP) by 114.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 515,500 shares of the company’s stock after acquiring an additional 275,500 shares during the quarter. HashiCorp comprises 1.0% of Cinctive Capital Management LP’s holdings, making the stock its 19th largest holding. Cinctive Capital Management LP owned about 0.25% of HashiCorp worth $17,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Longfellow Investment Management Co. LLC acquired a new stake in HashiCorp in the third quarter worth $38,000. American Capital Advisory LLC acquired a new stake in shares of HashiCorp in the 2nd quarter valued at about $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HashiCorp in the 3rd quarter valued at about $51,000. Quest Partners LLC increased its position in HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares in the last quarter. Finally, KBC Group NV raised its stake in HashiCorp by 25.8% during the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after buying an additional 731 shares during the period. 87.83% of the stock is currently owned by institutional investors.

HashiCorp Price Performance

NASDAQ HCP opened at $33.62 on Monday. The business’s fifty day moving average is $33.85 and its 200-day moving average is $33.71. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -44.83 and a beta of 1.24. HashiCorp, Inc. has a one year low of $19.26 and a one year high of $34.21.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The business had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Research analysts expect that HashiCorp, Inc. will post -0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the transaction, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at $147,638.40. This trade represents a 76.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ledger Susan St. sold 22,232 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $752,330.88. Following the transaction, the insider now owns 167,747 shares of the company’s stock, valued at approximately $5,676,558.48. The trade was a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 366,208 shares of company stock worth $12,391,868 over the last quarter. 22.49% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Citigroup initiated coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. Finally, StockNews.com started coverage on HashiCorp in a research note on Friday. They set a “hold” rating for the company. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HashiCorp presently has a consensus 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.