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

HashiCorp, Inc. (NASDAQ:HCP) was the target of a large increase in short interest during 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. Approximately 6.2% of the shares of the company are sold short. Based on an average daily trading volume, of 2,400,000 shares, the short-interest ratio is presently 2.9 days.

HashiCorp Trading Down 0.5 %

Shares of NASDAQ HCP opened at $23.53 on Thursday. The firm’s 50-day moving average price is $25.51 and its 200-day moving average price is $23.17. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of -24.01 and a beta of 1.42. HashiCorp has a 12-month low of $18.91 and a 12-month high of $36.39.

HashiCorp (NASDAQ:HCP) last announced its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, equities analysts predict that HashiCorp will post -0.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HCP. KeyCorp began coverage on shares of HashiCorp in a report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Stifel Nicolaus upped their target price on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. TD Cowen upped their target price on shares of HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. JMP Securities reissued a “market outperform” rating and set a $38.00 price objective on shares of HashiCorp in a report on Thursday, March 7th. Finally, Citigroup increased their price objective on shares of HashiCorp from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, January 22nd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.77.

Insider Buying and Selling at HashiCorp

In other news, CFO Navam Welihinda sold 2,500 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $21.95, for a total transaction of $54,875.00. Following the completion of the sale, the chief financial officer now owns 62,844 shares of the company’s stock, valued at approximately $1,379,425.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Navam Welihinda sold 2,500 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $21.95, for a total transaction of $54,875.00. Following the completion of the sale, the chief financial officer now owns 62,844 shares of the company’s stock, valued at approximately $1,379,425.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ledger Susan St. sold 17,895 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total transaction of $490,144.05. Following the sale, the insider now directly owns 121,702 shares of the company’s stock, valued at approximately $3,333,417.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 262,577 shares of company stock worth $6,484,004. Insiders own 26.13% of the company’s stock.

Institutional Trading of HashiCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina grew its stake in HashiCorp by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock worth $1,020,000 after acquiring an additional 420 shares in the last quarter. State of Wisconsin Investment Board grew its stake in HashiCorp by 0.3% in the 2nd quarter. State of Wisconsin Investment Board now owns 154,892 shares of the company’s stock worth $4,055,000 after acquiring an additional 540 shares in the last quarter. Citigroup Inc. grew its stake in HashiCorp by 167.6% in the 4th quarter. Citigroup Inc. now owns 918 shares of the company’s stock worth $25,000 after acquiring an additional 575 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after acquiring an additional 615 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in shares of HashiCorp during the first quarter valued at approximately $33,000. 87.83% of the stock is owned by hedge funds and other institutional investors.

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.