Lattice Capital Management LLC Acquires 18,400 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Lattice Capital Management LLC lifted its holdings in shares of HashiCorp, Inc. (NASDAQ:HCP) by 34.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,308 shares of the company’s stock after purchasing an additional 18,400 shares during the period. HashiCorp accounts for about 0.1% of Lattice Capital Management LLC’s portfolio, making the stock its 11th biggest position. Lattice Capital Management LLC’s holdings in HashiCorp were worth $1,686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Citigroup Inc. boosted its holdings in HashiCorp by 167.6% in the fourth quarter. Citigroup Inc. now owns 918 shares of the company’s stock worth $25,000 after acquiring an additional 575 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in HashiCorp in the first quarter worth approximately $33,000. Tower Research Capital LLC TRC boosted its holdings in HashiCorp by 82.7% in the third quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company’s stock worth $39,000 after acquiring an additional 766 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of HashiCorp by 94.8% in the third quarter. Advisors Asset Management Inc. now owns 1,761 shares of the company’s stock worth $40,000 after purchasing an additional 857 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of HashiCorp by 188.1% in the second quarter. Osaic Holdings Inc. now owns 1,769 shares of the company’s stock worth $46,000 after purchasing an additional 1,155 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

HashiCorp Price Performance

NASDAQ HCP traded up $0.23 during trading hours on Tuesday, reaching $23.66. 1,452,351 shares of the stock traded hands, compared to its average volume of 2,331,049. The stock has a 50 day simple moving average of $25.48 and a two-hundred day simple moving average of $23.16. HashiCorp, Inc. has a 1 year low of $18.91 and a 1 year high of $36.39. The company has a market cap of $4.72 billion, a price-to-earnings ratio of -23.91 and a beta of 1.42.

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

Insider Activity at HashiCorp

In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $21.94, for a total transaction of $787,733.76. Following the transaction, the chief technology officer now owns 1,840,684 shares in the company, valued at approximately $40,384,606.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.94, for a total transaction of $787,733.76. Following the transaction, the chief technology officer now owns 1,840,684 shares in the company, valued at approximately $40,384,606.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $26.30, for a total value of $365,990.80. The disclosure for this sale can be found here. Insiders have sold a total of 262,577 shares of company stock worth $6,484,004 in the last 90 days. Company insiders own 26.13% of the company’s stock.

Wall Street Analyst Weigh In

HCP has been the subject of several analyst reports. Citigroup increased their price objective on HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 22nd. Bank of America increased their price target on HashiCorp from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. BTIG Research increased their price target on HashiCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Scotiabank raised HashiCorp from a “sector perform” rating to a “sector outperform” rating and set a $31.00 price target for the company in a research report on Tuesday, March 12th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price target (up from $22.00) on shares of HashiCorp in a research report on Wednesday, March 6th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.77.

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.