HashiCorp, Inc. (NASDAQ:HCP) Sees Large Increase in Short Interest

HashiCorp, Inc. (NASDAQ:HCP) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 6,900,000 shares, a growth of 6.8% from the March 15th total of 6,460,000 shares. Based on an average daily volume of 2,400,000 shares, the short-interest ratio is presently 2.9 days. Currently, 6.2% of the shares of the company are short sold.

Insider Buying and Selling at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $21.94, for a total transaction of $787,733.76. Following the completion of the sale, the chief technology officer now owns 1,840,684 shares of the company’s stock, valued at approximately $40,384,606.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total transaction of $365,990.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.94, for a total transaction of $787,733.76. Following the sale, the chief technology officer now directly owns 1,840,684 shares of the company’s stock, valued at approximately $40,384,606.96. The disclosure for this sale can be found here. Insiders sold 262,577 shares of company stock valued at $6,484,004 in the last quarter. Company insiders own 26.13% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. acquired a new position in shares of HashiCorp during the first quarter valued at about $33,000. Citigroup Inc. grew its holdings in shares of HashiCorp by 167.6% during the fourth quarter. Citigroup Inc. now owns 918 shares of the company’s stock valued at $25,000 after buying an additional 575 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of HashiCorp during the first quarter valued at about $50,000. Tower Research Capital LLC TRC grew its holdings in shares of HashiCorp by 82.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company’s stock valued at $39,000 after buying an additional 766 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of HashiCorp during the fourth quarter valued at about $47,000. 87.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on HCP shares. TD Cowen upped their price objective on shares of HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Stifel Nicolaus increased their price objective on shares of HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Bank of America increased their price objective on shares of HashiCorp from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Oppenheimer reissued an “outperform” rating and issued a $34.00 price objective on shares of HashiCorp in a research note on Wednesday, March 6th. Finally, Needham & Company LLC increased their price objective on shares of HashiCorp from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.77.

HashiCorp Stock Performance

HCP stock opened at $23.43 on Tuesday. The company has a fifty day moving average price of $25.48 and a 200-day moving average price of $23.16. The company has a market capitalization of $4.68 billion, a P/E ratio of -23.91 and a beta of 1.42. HashiCorp has a 52-week low of $18.91 and a 52-week high of $36.39.

HashiCorp (NASDAQ:HCP) last announced its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. The business had revenue of $155.78 million during the quarter, compared to the consensus estimate of $149.47 million. As a group, sell-side analysts forecast that HashiCorp will post -0.8 earnings per share for the current fiscal year.

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.