Elite Wealth Management Inc. Sells 389,943 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Elite Wealth Management Inc. decreased its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 84.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 73,674 shares of the company’s stock after selling 389,943 shares during the period. HashiCorp makes up about 0.3% of Elite Wealth Management Inc.’s portfolio, making the stock its 19th largest position. Elite Wealth Management Inc.’s holdings in HashiCorp were worth $2,495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of HCP. MetLife Investment Management LLC raised its holdings in shares of HashiCorp by 43.8% in the third quarter. MetLife Investment Management LLC now owns 7,491 shares of the company’s stock valued at $254,000 after purchasing an additional 2,282 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in HashiCorp by 15.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,118,478 shares of the company’s stock worth $37,872,000 after purchasing an additional 149,978 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in HashiCorp in the 3rd quarter worth about $38,000. Citigroup Inc. increased its stake in HashiCorp by 62.3% in the 3rd quarter. Citigroup Inc. now owns 143,555 shares of the company’s stock valued at $4,861,000 after buying an additional 55,122 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in HashiCorp by 15.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 985,056 shares of the company’s stock valued at $33,354,000 after buying an additional 135,156 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

HashiCorp Stock Down 0.6 %

HCP opened at $33.58 on Thursday. The business’s fifty day simple moving average is $33.86 and its 200 day simple moving average is $33.70. HashiCorp, Inc. has a 52 week low of $19.26 and a 52 week high of $34.21. The stock has a market cap of $6.81 billion, a PE ratio of -44.77 and a beta of 1.24.

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

Insider Buying and Selling at HashiCorp

In other news, CMO Marc Holmes sold 11,854 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 $401,139.36. Following the completion of the sale, the chief marketing officer now owns 22,536 shares of the company’s stock, valued at approximately $762,618.24. The trade was a 34.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total value of $1,214,632.32. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,421,600. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 366,208 shares of company stock worth $12,391,868 over the last ninety days. Insiders own 22.49% of the company’s stock.

Analyst Upgrades and Downgrades

HCP has been the subject of several research analyst reports. StockNews.com started coverage on HashiCorp in a research report on Saturday, November 23rd. They set a “hold” rating for the company. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Piper Sandler reissued a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Finally, Citigroup started coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, HashiCorp currently 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.