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

HashiCorp, Inc. (NASDAQ:HCPGet Free Report) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 7,490,000 shares, a growth of 6.8% from the May 31st total of 7,010,000 shares. Currently, 5.3% of the company’s stock are sold short. Based on an average daily volume of 4,780,000 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HCP. Stifel Nicolaus increased their price objective on HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Thursday, June 6th. William Blair lowered shares of HashiCorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 24th. Truist Financial reiterated a “hold” rating and set a $35.00 target price (up previously from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. Finally, KeyCorp assumed coverage on HashiCorp in a research report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. 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.com, HashiCorp presently has a consensus rating of “Hold” and a consensus target price of $31.17.

Read Our Latest Analysis on HCP

Insider Buying and Selling

In related news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $33.74, for a total value of $469,525.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Marc Holmes sold 13,916 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $33.74, for a total transaction of $469,525.84. The disclosure for this sale can be found here. Insiders sold 359,266 shares of company stock valued at $11,517,392 in the last three months. 22.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HashiCorp

Several institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its holdings in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after purchasing an additional 961 shares during the last quarter. Covestor Ltd increased its position in HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after purchasing an additional 3,480 shares in the last quarter. Industry Ventures L.L.C. purchased a new position in HashiCorp in the fourth quarter valued at approximately $157,000. Entropy Technologies LP acquired a new position in HashiCorp during the first quarter valued at approximately $311,000. Finally, SVB Wealth LLC purchased a new stake in HashiCorp during the fourth quarter worth approximately $273,000. 87.83% of the stock is currently owned by institutional investors and hedge funds.

HashiCorp Stock Up 0.4 %

Shares of HCP traded up $0.13 during trading hours on Wednesday, reaching $33.75. 1,551,313 shares of the company traded hands, compared to its average volume of 3,677,188. The stock has a market capitalization of $6.79 billion, a PE ratio of -35.16 and a beta of 1.25. The stock has a fifty day simple moving average of $33.29 and a 200 day simple moving average of $27.52. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.05.

HashiCorp (NASDAQ:HCPGet Free Report) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.02. The company had revenue of $160.58 million for the quarter, compared to analysts’ expectations of $153.39 million. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. Research analysts predict that HashiCorp will post -0.8 EPS for the current fiscal year.

HashiCorp Company Profile

(Get Free Report)

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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