HashiCorp, Inc. (NASDAQ:HCP) Position Trimmed by HGC Investment Management Inc.

HGC Investment Management Inc. cut its position in HashiCorp, Inc. (NASDAQ:HCP) by 94.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,426 shares of the company’s stock after selling 250,000 shares during the quarter. HGC Investment Management Inc.’s holdings in HashiCorp were worth $488,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in HCP. Cinctive Capital Management LP grew its stake in shares of HashiCorp by 114.8% in the third quarter. Cinctive Capital Management LP now owns 515,500 shares of the company’s stock valued at $17,455,000 after acquiring an additional 275,500 shares in the last quarter. ClearAlpha Technologies LP raised its position in shares of HashiCorp by 26.9% during the third quarter. ClearAlpha Technologies LP now owns 265,768 shares of the company’s stock valued at $8,999,000 after buying an additional 56,392 shares during the last quarter. Bardin Hill Management Partners LP bought a new position in HashiCorp in the third quarter valued at approximately $14,908,000. Paloma Partners Management Co acquired a new stake in shares of HashiCorp during the third quarter worth $881,000. Finally, Slotnik Capital LLC grew its position in shares of HashiCorp by 9.2% in the 3rd quarter. Slotnik Capital LLC now owns 1,116,908 shares of the company’s stock valued at $37,819,000 after acquiring an additional 94,450 shares during the period. 87.83% of the stock is owned by institutional investors.

HashiCorp Stock Down 0.1 %

NASDAQ:HCP opened at $33.59 on Tuesday. The stock’s 50 day simple moving average is $33.84 and its two-hundred day simple moving average is $33.72. HashiCorp, Inc. has a 1 year low of $19.26 and a 1 year high of $34.21.

Analyst Ratings Changes

HCP has been the topic of a number of research analyst reports. StockNews.com began coverage on shares of HashiCorp in a research report on Friday. They set a “hold” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Citigroup began coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. Finally, Piper Sandler reiterated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Twelve equities research 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 company presently has a consensus rating of “Hold” and an average target price of $32.08.

Insider Buying and Selling

In other news, insider Ledger Susan St. sold 22,232 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were 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 in the company, valued at $5,676,558.48. This represents a 11.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the sale, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at approximately $147,638.40. This represents a 76.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 330,304 shares of company stock valued at $11,177,235. Company insiders own 22.49% of the company’s stock.

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.