Loomis Sayles & Co. L P Sells 234,183 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Loomis Sayles & Co. L P cut its stake in shares of HashiCorp, Inc. (NASDAQ:HCP) by 66.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 115,857 shares of the company’s stock after selling 234,183 shares during the quarter. Loomis Sayles & Co. L P’s holdings in HashiCorp were worth $3,923,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. increased its stake in HashiCorp by 3.1% in the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after buying an additional 305 shares in the last quarter. Comerica Bank increased its stake in HashiCorp by 2.1% in the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after buying an additional 374 shares in the last quarter. KBC Group NV increased its stake in HashiCorp by 25.8% in 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 in the last quarter. Victory Capital Management Inc. increased its stake in HashiCorp by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock worth $646,000 after buying an additional 873 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares in the last quarter. 87.83% of the stock is owned by hedge funds and other institutional investors.

HashiCorp Trading Down 0.6 %

HCP opened at $33.58 on Thursday. The firm has a market cap of $6.81 billion, a P/E ratio of -44.77 and a beta of 1.24. HashiCorp, Inc. has a 12 month low of $19.26 and a 12 month high of $34.21. The stock has a 50-day moving average of $33.86 and a 200 day moving average of $33.70.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HCP shares. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Piper Sandler restated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup initiated coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. Finally, StockNews.com initiated coverage on HashiCorp in a research report on Saturday, November 23rd. They set a “hold” rating for the company. Twelve 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, the stock has an average rating of “Hold” and an average target price of $32.08.

Insider Buying and Selling

In other HashiCorp news, CTO Armon Dadgar sold 35,903 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $33.90, for a total value of $1,217,111.70. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,528,000. This trade represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total transaction of $470,360.80. Following the completion of the sale, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $147,638.40. The trade was a 76.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 366,208 shares of company stock worth $12,391,868. Corporate insiders own 22.49% of the company’s stock.

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.