HashiCorp, Inc. (NASDAQ:HCP) a leader in multi-cloud infrastructure automation software, has been added to the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes annual reconstitution, effective after the U.S. market opened on June 26, according to a preliminary list of additions posted May 19.
The annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of April 28, ranking them by total market capitalization, including both the Russell 3000® and Russell Microcap® Indexes.
“We are pleased to be included in the Russell 3000 Index as part of its 2023 reconstitution, an indicator of our solid performance, and the ongoing value we are delivering to shareholders,” said Navam Welihinda, chief financial officer, HashiCorp. “This is a meaningful milestone for HashiCorp because the Russell Indexes serve as leading benchmarks for institutional investors. This inclusion will allow us to introduce a wider, more diverse range of investors to HashiCorp and the significant opportunity that we believe is in front of us to help organizations around the world move to and make the most of cloud infrastructure.”
HashiCorp helps enterprises of all sizes transition to and operate in the cloud more efficiently, securely, and in a more cost effective way. HashiCorp’s suite of products for provisioning, security, and application delivery play a foundational role for how organizations operate in cloud environments. HashiCorp’s enterprise products are the de facto standard for more than 20 percent of the Global 2000, including AstraZeneca, Autodesk, Blackstone, Comcast, Deutsche Bank, JPMorgan Chase, National Bank Australia, Lufthansa, Progressive, Samsung, Vodafone, and more. HashiCorp’s open source offerings were downloaded more than 450 million times during the company’s 2023 fiscal year.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
