Annual index reconstitution recognizes leading cloud infrastructure automation company as one of the 4,000 largest U.S. stocks
SAN FRANCISCO, June 29, 2023 (GLOBE NEWSWIRE) — 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.
About HashiCorp
HashiCorp is a leader in multi-cloud infrastructure automation software. The HashiCorp software suite enables organizations to adopt consistent workflows and create a system of record for automating the cloud: infrastructure provisioning, security, networking, and application deployment. HashiCorp’s portfolio of products includes Vagrant™, Packer™, Terraform®, Vault™, Consul®, Nomad™, Boundary™, and Waypoint™. HashiCorp offers products as open source, enterprise, and as managed cloud services. The company is headquartered in San Francisco, though most of HashiCorp employees work remotely, strategically distributed around the globe. For more information, visit hashicorp.com or follow HashiCorp on Twitter @HashiCorp.
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About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20.1 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers, and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products, and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth, and reach of its offering. FTSE Russell is wholly owned by the London Stock Exchange Group. For more information, visit www.ftserussell.com.
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