Harvest Management LLC Acquires 366,800 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Harvest Management LLC boosted its stake in HashiCorp, Inc. (NASDAQ:HCP) by 183.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 566,800 shares of the company’s stock after acquiring an additional 366,800 shares during the period. HashiCorp comprises approximately 9.8% of Harvest Management LLC’s investment portfolio, making the stock its 2nd largest position. Harvest Management LLC’s holdings in HashiCorp were worth $19,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Westchester Capital Management LLC increased its stake in shares of HashiCorp by 60.5% during the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock worth $108,363,000 after buying an additional 1,206,073 shares during the period. Pentwater Capital Management LP purchased a new position in HashiCorp during the second quarter worth about $91,654,000. Alpine Associates Management Inc. lifted its position in HashiCorp by 48.7% in the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after purchasing an additional 701,350 shares during the period. Magnetar Financial LLC purchased a new stake in HashiCorp during the second quarter worth about $71,490,000. Finally, ING Groep NV boosted its position in HashiCorp by 851.2% during the third quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock worth $56,587,000 after purchasing an additional 1,495,500 shares in the last quarter. Institutional investors and hedge funds own 87.83% of the company’s stock.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,903 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $33.90, for a total value of $1,217,111.70. Following the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,528,000. The trade was a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $1,626,181.20. Following the completion of the transaction, the chief executive officer now owns 419,531 shares in the company, valued at approximately $14,196,929.04. This represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 330,304 shares of company stock worth $11,177,235 over the last three months. Corporate insiders own 22.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HCP shares. StockNews.com initiated coverage on HashiCorp in a research report on Friday. They set a “hold” rating for the company. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. Citigroup began coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Trading Down 0.1 %

Shares of HashiCorp stock opened at $33.59 on Tuesday. The company’s 50-day moving average price is $33.84 and its two-hundred day moving average price is $33.72. HashiCorp, Inc. has a 52 week low of $19.26 and a 52 week high of $34.21.

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.