HashiCorp, Inc. (NASDAQ:HCP) Short Interest Update

HashiCorp, Inc. (NASDAQ:HCP) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 11,530,000 shares, a decrease of 14.3% from the September 30th total of 13,450,000 shares. Approximately 7.7% of the shares of the company are short sold. Based on an average trading volume of 2,170,000 shares, the short-interest ratio is presently 5.3 days.

Insider Activity

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the sale, the chief financial officer now directly owns 88,322 shares in the company, valued at $2,991,466.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Mcjannet sold 48,055 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the sale, the chief executive officer now directly owns 419,531 shares in the company, valued at $14,196,929.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 385,125 shares of company stock valued at $13,022,483 in the last three months. Company insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

A number of hedge funds have recently modified their holdings of the business. Whale Rock Capital Management LLC raised its position in shares of HashiCorp by 293.2% during the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock valued at $123,046,000 after purchasing an additional 3,404,557 shares during the period. Pentwater Capital Management LP purchased a new position in HashiCorp in the 2nd quarter worth approximately $91,654,000. Magnetar Financial LLC bought a new position in shares of HashiCorp during the second quarter worth $71,490,000. Champlain Investment Partners LLC purchased a new stake in HashiCorp in the 1st quarter worth $48,995,000. Finally, Vanguard Group Inc. boosted its holdings in shares of HashiCorp by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after purchasing an additional 1,501,953 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

HashiCorp Trading Up 0.1 %

HashiCorp stock traded up $0.03 during trading hours on Tuesday, hitting $33.93. 67,993 shares of the stock traded hands, compared to its average volume of 3,132,790. HashiCorp has a one year low of $18.91 and a one year high of $34.06. The company has a market cap of $6.82 billion, a PE ratio of -35.31 and a beta of 1.25. The firm’s 50-day moving average price is $33.85 and its two-hundred day moving average price is $33.06.

HashiCorp (NASDAQ:HCP) last released its earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The business had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.34) earnings per share. On average, sell-side analysts expect that HashiCorp will post -0.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on HCP shares. Piper Sandler reissued a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Citigroup began coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target for the company. StockNews.com assumed coverage on shares of HashiCorp in a research report on Thursday, October 24th. They set a “hold” rating on the stock. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.08.

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.