HashiCorp (NASDAQ:HCP) Sets New 12-Month High – Here’s What Happened

HashiCorp, Inc. (NASDAQ:HCP)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $34.46 and last traded at $34.33, with a volume of 4553255 shares traded. The stock had previously closed at $34.32.

Analyst Upgrades and Downgrades

HCP has been the topic of a number of recent analyst reports. StockNews.com assumed coverage on shares of HashiCorp in a research note on Sunday, December 29th. They set a “hold” rating on the stock. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.08.

HashiCorp Stock Up 0.0 %

The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of -56.28 and a beta of 1.18. The firm’s 50 day moving average is $33.94 and its 200 day moving average is $33.81.

Insider Activity

In other HashiCorp news, CTO Armon Dadgar sold 17,800 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the completion of the sale, the chief technology officer now directly owns 31,348 shares of the company’s stock, valued at approximately $1,073,042.04. This represents a 36.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Mcjannet sold 47,526 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the transaction, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,940 shares of company stock worth $7,088,351. Insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

A number of hedge funds have recently modified their holdings of HCP. Longfellow Investment Management Co. LLC acquired a new position in HashiCorp during the third quarter valued at $38,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HashiCorp in the third quarter worth approximately $51,000. Quest Partners LLC lifted its position in shares of HashiCorp by 9,736.1% in the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after purchasing an additional 3,505 shares in the last quarter. KBC Group NV boosted its holdings in shares of HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after purchasing an additional 731 shares during the period. Finally, Townsend Asset Management Corp NC ADV purchased a new position in HashiCorp during the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 86.25% of the company’s stock.

About HashiCorp

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.