HashiCorp (NASDAQ:HCP) Reaches New 1-Year High – Still a Buy?

HashiCorp, Inc. (NASDAQ:HCP)’s share 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. The stock had previously closed at $34.32.

Analyst Ratings Changes

Several equities analysts recently commented on HCP shares. StockNews.com assumed coverage on shares of HashiCorp in a report on Sunday, December 29th. They set a “hold” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Performance

The company has a market capitalization of $7.01 billion, a P/E ratio of -56.24 and a beta of 1.18. The company’s fifty day simple moving average is $33.96 and its 200-day simple moving average is $33.82.

Insider Activity

In other news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated 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 approximately $51,467,200. This trade represents a 2.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 208,940 shares of company stock worth $7,088,351. Corporate insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HCP. Longfellow Investment Management Co. LLC purchased a new stake in shares of HashiCorp during the third quarter worth about $38,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HashiCorp during the 3rd quarter valued at approximately $51,000. Quest Partners LLC raised its holdings 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 buying an additional 3,505 shares during the last quarter. KBC Group NV lifted 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 worth $121,000 after buying an additional 731 shares during the period. Finally, Townsend Asset Management Corp NC ADV purchased a new stake in shares of HashiCorp during the third quarter valued at $205,000. 86.25% of the stock is owned by institutional investors and hedge funds.

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.