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

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

Insider Activity at HashiCorp

In related news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total value of $365,990.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total value of $365,990.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Navam Welihinda sold 2,500 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $21.95, for a total transaction of $54,875.00. Following the completion of the transaction, the chief financial officer now directly owns 62,844 shares of the company’s stock, valued at approximately $1,379,425.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 262,577 shares of company stock worth $6,484,004. Company insiders own 26.13% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Citigroup Inc. boosted its position in shares of HashiCorp by 167.6% during the fourth quarter. Citigroup Inc. now owns 918 shares of the company’s stock worth $25,000 after purchasing an additional 575 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of HashiCorp during the first quarter worth $33,000. Tower Research Capital LLC TRC boosted its position 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 worth $39,000 after purchasing an additional 766 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of HashiCorp by 94.8% during the third quarter. Advisors Asset Management Inc. now owns 1,761 shares of the company’s stock worth $40,000 after purchasing an additional 857 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of HashiCorp by 188.1% during the second quarter. Osaic Holdings Inc. now owns 1,769 shares of the company’s stock worth $46,000 after purchasing an additional 1,155 shares in the last quarter. 87.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HCP shares. JMP Securities reaffirmed a “market outperform” rating and set a $38.00 price objective on shares of HashiCorp in a report on Thursday, March 7th. Stifel Nicolaus raised their price objective on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 price objective (up previously from $22.00) on shares of HashiCorp in a report on Wednesday, March 6th. BTIG Research raised their price objective on shares of HashiCorp from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Scotiabank raised shares of HashiCorp from a “sector perform” rating to a “sector outperform” rating and set a $31.00 price objective for the company in a report on Tuesday, March 12th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, HashiCorp has a consensus rating of “Moderate Buy” and an average price target of $28.77.

HashiCorp Stock Performance

Shares of HCP stock opened at $23.43 on Tuesday. HashiCorp has a 52-week low of $18.91 and a 52-week high of $36.39. The stock has a market cap of $4.68 billion, a PE ratio of -23.91 and a beta of 1.42. The firm’s 50 day moving average price is $25.48 and its two-hundred day moving average price is $23.16.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $155.78 million for the quarter, compared to analysts’ expectations of $149.47 million. As a group, sell-side analysts predict 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.