HashiCorp, Inc. (NASDAQ:HCP) Short Interest Up 5.3% in July

HashiCorp, Inc. (NASDAQ:HCP) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 7,980,000 shares, a growth of 5.3% from the June 30th total of 7,580,000 shares. Currently, 5.7% of the shares of the stock are short sold. Based on an average daily volume of 5,160,000 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

HCP has been the topic of several recent analyst reports. Piper Sandler boosted their price objective on HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Scotiabank restated a “sector perform” rating and issued a $35.00 price target (up previously from $31.00) on shares of HashiCorp in a research report on Thursday, April 25th. William Blair cut shares of HashiCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 24th. Needham & Company LLC restated a “hold” rating on shares of HashiCorp in a report on Thursday, April 25th. Finally, BTIG Research downgraded HashiCorp from a “buy” rating to a “neutral” rating in a report on Wednesday, April 24th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.17.

Insider Buying and Selling

In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $33.26, for a total transaction of $1,598,309.30. Following the sale, the chief executive officer now directly owns 373,330 shares in the company, valued at approximately $12,416,955.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO David Mcjannet sold 48,055 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $33.26, for a total value of $1,598,309.30. Following the sale, the chief executive officer now owns 373,330 shares of the company’s stock, valued at approximately $12,416,955.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $33.34, for a total transaction of $166,700.00. Following the completion of the sale, the chief financial officer now directly owns 93,925 shares of the company’s stock, valued at $3,131,459.50. The disclosure for this sale can be found here. Insiders sold 392,820 shares of company stock valued at $13,108,279 over the last 90 days. 22.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HashiCorp

Several hedge funds have recently modified their holdings of HCP. Comerica Bank boosted its holdings in HashiCorp by 2.1% in the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after purchasing an additional 374 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of HashiCorp by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after buying an additional 420 shares during the period. Advisors Asset Management Inc. grew its position in HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares in the last quarter. American Capital Advisory LLC acquired a new position in HashiCorp in the 2nd quarter valued at approximately $40,000. Finally, Arizona State Retirement System lifted its position in shares of HashiCorp by 6.6% in the 4th quarter. Arizona State Retirement System now owns 28,111 shares of the company’s stock worth $665,000 after acquiring an additional 1,750 shares during the period. 87.83% of the stock is owned by institutional investors.

HashiCorp Stock Up 0.4 %

Shares of NASDAQ:HCP traded up $0.12 during trading on Wednesday, reaching $33.78. The stock had a trading volume of 1,909,778 shares, compared to its average volume of 3,558,864. The stock has a fifty day simple moving average of $33.57 and a two-hundred day simple moving average of $28.97. HashiCorp has a 52 week low of $18.91 and a 52 week high of $34.05. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of -35.17 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. The company had revenue of $160.58 million during 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%. On average, analysts forecast that HashiCorp will post -0.8 EPS for the current year.

About HashiCorp

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.