University of Texas Texas AM Investment Managment Co. Takes $2.36 Million Position in HashiCorp, Inc. (NASDAQ:HCP)

University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of HashiCorp, Inc. (NASDAQ:HCP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 99,783 shares of the company’s stock, valued at approximately $2,359,000. HashiCorp accounts for approximately 1.0% of University of Texas Texas AM Investment Managment Co.’s investment portfolio, making the stock its 5th largest holding.

A number of other large investors also recently modified their holdings of the business. TimesSquare Capital Management LLC acquired a new position in HashiCorp during the third quarter worth about $55,774,000. Atreides Management LP acquired a new position in HashiCorp during the third quarter worth about $31,413,000. Optimus Prime Fund Management Co. Ltd. grew its holdings in 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 acquiring an additional 949,100 shares during the period. Contour Asset Management LLC acquired a new position in HashiCorp during the fourth quarter worth about $21,217,000. Finally, First Trust Advisors LP grew its holdings in 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 acquiring an additional 716,574 shares during the period. 87.83% of the stock is owned by institutional investors and hedge funds.

HashiCorp Stock Down 0.1 %

Shares of HashiCorp stock traded down $0.02 during trading on Friday, hitting $33.63. 9,223,096 shares of the stock traded hands, compared to its average volume of 3,557,076. HashiCorp, Inc. has a twelve month low of $18.91 and a twelve month high of $34.05. The company has a fifty day moving average price of $31.24 and a two-hundred day moving average price of $26.55.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial reaffirmed a “hold” rating and set a $35.00 target price (up from $27.00) on shares of HashiCorp in a report on Thursday, April 25th. Bank of America lifted their price target on HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Morgan Stanley raised HashiCorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $23.00 to $30.00 in a research note on Monday, February 26th. Stifel Nicolaus lifted their price target on HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Oppenheimer reissued an “outperform” rating and issued a $34.00 price target on shares of HashiCorp in a research note on Wednesday, March 6th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.17.

Insider Activity

In other news, CTO Armon Dadgar sold 10,241 shares of HashiCorp stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $27.39, for a total transaction of $280,500.99. Following the completion of the sale, the chief technology officer now directly owns 144,820 shares in the company, valued at approximately $3,966,619.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO David Mcjannet sold 33,331 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $27.38, for a total value of $912,602.78. Following the transaction, the chief executive officer now directly owns 326,912 shares of the company’s stock, valued at approximately $8,950,850.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 10,241 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total value of $280,500.99. Following the completion of the transaction, the chief technology officer now directly owns 144,820 shares in the company, valued at $3,966,619.80. The disclosure for this sale can be found here. Insiders sold a total of 298,331 shares of company stock worth $8,744,659 in the last three months. 22.49% of the stock is owned by insiders.

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.