HashiCorp (NASDAQ:HCP) Sets New 52-Week High – What’s Next?

Shares of HashiCorp, Inc. (NASDAQ:HCP) reached a new 52-week high during trading on Friday . The stock traded as high as $34.39 and last traded at $34.38, with a volume of 2306720 shares changing hands. The stock had previously closed at $34.17.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HCP. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. StockNews.com initiated coverage on HashiCorp in a report on Sunday, December 29th. They issued a “hold” rating on the stock. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, HashiCorp has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Up 0.6 %

The firm has a market cap of $7.03 billion, a P/E ratio of -56.36 and a beta of 1.21. The firm’s 50-day moving average price is $33.90 and its 200 day moving average price is $33.79.

Insider Transactions at HashiCorp

In other news, CEO David Mcjannet sold 47,526 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 465,978 shares in the company, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $33.86, for a total value of $1,215,709.44. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,467,200. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,940 shares of company stock valued at $7,088,351 in the last quarter. Insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Westchester Capital Management LLC lifted its stake in HashiCorp by 60.5% in the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock valued at $108,363,000 after acquiring an additional 1,206,073 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of HashiCorp by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after purchasing an additional 385,118 shares during the period. State Street Corp boosted its position in shares of HashiCorp by 14.5% in the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock valued at $75,841,000 after acquiring an additional 282,965 shares during the period. Alpine Associates Management Inc. increased its holdings in shares of HashiCorp by 48.7% during the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after purchasing an additional 701,350 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in HashiCorp during the second quarter worth about $71,490,000. 86.25% of the stock is owned by 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.