Principal Financial Group Inc. Purchases 3,399 Shares of HashiCorp, Inc. (NASDAQ:HCP)

Principal Financial Group Inc. lifted its position in HashiCorp, Inc. (NASDAQ:HCP) by 41.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,516 shares of the company’s stock after buying an additional 3,399 shares during the period. Principal Financial Group Inc.’s holdings in HashiCorp were worth $390,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Neo Ivy Capital Management purchased a new position in HashiCorp during the third quarter valued at approximately $2,400,000. Geode Capital Management LLC lifted its stake in shares of HashiCorp by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after purchasing an additional 385,118 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in HashiCorp by 39.7% during the third quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock valued at $1,735,000 after purchasing an additional 14,555 shares in the last quarter. K2 Principal Fund L.P. grew its stake in HashiCorp by 34.0% in the third quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company’s stock valued at $3,994,000 after purchasing an additional 29,901 shares during the last quarter. Finally, State Street Corp raised its holdings in HashiCorp by 14.5% in the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after purchasing an additional 282,965 shares in the last quarter. 86.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at HashiCorp

In related news, CTO Armon Dadgar sold 17,800 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $34.23, for a total value of $609,294.00. Following the completion of the transaction, the chief technology officer now directly owns 31,348 shares in the company, valued at approximately $1,073,042.04. This represents a 36.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Mcjannet sold 47,526 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the sale, the chief executive officer now directly owns 465,978 shares in the company, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,940 shares of company stock worth $7,088,351 in the last quarter. Company insiders own 22.49% of the company’s stock.

HashiCorp Stock Performance

Shares of HashiCorp stock opened at $34.38 on Monday. The business’s 50 day moving average price is $33.92 and its 200 day moving average price is $33.79. The company has a market cap of $7.03 billion, a price-to-earnings ratio of -56.36 and a beta of 1.18. HashiCorp, Inc. has a one year low of $20.89 and a one year high of $34.39.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HCP. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. StockNews.com initiated coverage on HashiCorp in a research report on Sunday, December 29th. They issued a “hold” rating for the company. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.08.

About HashiCorp

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.