Short Interest in HashiCorp, Inc. (NASDAQ:HCP) Declines By 5.8%

HashiCorp, Inc. (NASDAQ:HCP) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 9,870,000 shares, a decline of 5.8% from the October 31st total of 10,480,000 shares. Currently, 6.6% of the company’s stock are short sold. Based on an average daily trading volume, of 1,780,000 shares, the short-interest ratio is currently 5.5 days.

Insider Buying and Selling

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total transaction of $470,360.80. Following the transaction, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at $147,638.40. The trade was a 76.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ledger Susan St. sold 22,232 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $752,330.88. Following the completion of the sale, the insider now directly owns 167,747 shares of the company’s stock, valued at approximately $5,676,558.48. The trade was a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 330,304 shares of company stock worth $11,177,235. Insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Large investors have recently modified their holdings of the business. Longfellow Investment Management Co. LLC bought a new stake in shares of HashiCorp during the 3rd quarter worth $38,000. American Capital Advisory LLC acquired a new position in HashiCorp in the 2nd quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HashiCorp in the third quarter valued at about $51,000. Quest Partners LLC raised its position in HashiCorp by 9,736.1% in the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after purchasing an additional 3,505 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after purchasing an additional 731 shares in the last quarter. Institutional investors and hedge funds own 87.83% of the company’s stock.

HashiCorp Trading Down 0.1 %

NASDAQ HCP opened at $33.57 on Wednesday. The firm’s 50 day simple moving average is $33.84 and its 200 day simple moving average is $33.72. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of -44.76 and a beta of 1.21. HashiCorp has a 1 year low of $19.26 and a 1 year high of $34.21.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HCP. Piper Sandler restated a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. StockNews.com assumed coverage on shares of HashiCorp in a research report on Friday, November 29th. They set a “hold” rating for the company. Citigroup initiated coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, HashiCorp has an average rating of “Hold” and an average price target 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.