HashiCorp, Inc. (NASDAQ:HCP) Sees Significant Decrease in Short Interest

HashiCorp, Inc. (NASDAQ:HCPGet Free Report) saw a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 7,010,000 shares, a drop of 7.5% from the May 15th total of 7,580,000 shares. Based on an average daily volume of 4,450,000 shares, the short-interest ratio is presently 1.6 days. Approximately 5.0% of the shares of the company are short sold.

HashiCorp Stock Down 0.1 %

Shares of HCP traded down $0.04 on Wednesday, hitting $33.56. The company’s stock had a trading volume of 2,233,359 shares, compared to its average volume of 3,647,615. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.05. The company has a 50 day moving average price of $31.52 and a 200 day moving average price of $26.74.

Insider Buying and Selling at HashiCorp

In related news, insider Ledger Susan St. sold 17,895 shares of the company’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 completion of the sale, the insider now directly owns 121,702 shares of the company’s stock, valued at approximately $3,333,417.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $24.31, for a total transaction of $872,826.24. Following the completion of the sale, the chief technology officer now owns 1,625,260 shares in the company, valued at approximately $39,510,070.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ledger Susan St. sold 17,895 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total value of $490,144.05. Following the completion of the sale, the insider now directly owns 121,702 shares in the company, valued at approximately $3,333,417.78. The disclosure for this sale can be found here. Insiders have sold a total of 298,331 shares of company stock worth $8,744,659 over the last 90 days. Insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Several institutional investors have recently bought and sold shares of HCP. Advisors Asset Management Inc. increased its stake in shares of HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares in the last quarter. Covestor Ltd increased its position in HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after acquiring an additional 3,480 shares in the last quarter. Industry Ventures L.L.C. bought a new position in shares of HashiCorp in the fourth quarter worth about $157,000. Victory Capital Management Inc. lifted its position in shares of HashiCorp by 35.5% during the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after purchasing an additional 2,768 shares in the last quarter. Finally, Mirabella Financial Services LLP bought a new stake in shares of HashiCorp during the third quarter valued at approximately $269,000. Institutional investors own 87.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HCP. William Blair lowered shares of HashiCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 24th. Bank of America boosted their price objective on HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley raised shares of HashiCorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $23.00 to $30.00 in a report on Monday, February 26th. Piper Sandler upped their target price on shares of HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Finally, TD Cowen increased their price target on shares of HashiCorp from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.17.

Get Our Latest Report on HCP

HashiCorp Company Profile

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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.

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