HashiCorp (NASDAQ:HCP) Sets New 12-Month High – What’s Next?

HashiCorp, Inc. (NASDAQ:HCP)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $34.47 and last traded at $34.43, with a volume of 184124 shares. The stock had previously closed at $34.37.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HCP shares. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com raised HashiCorp from a “hold” rating to a “buy” rating in a report on Monday. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, HashiCorp currently has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Trading Up 0.2 %

The company’s 50-day moving average is $33.98 and its 200 day moving average is $33.84. The firm has a market cap of $7.04 billion, a PE ratio of -56.47 and a beta of 1.18.

Insider Activity

In other HashiCorp news, CTO Armon Dadgar sold 17,800 shares of HashiCorp stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the completion of the sale, the chief technology officer now owns 31,348 shares of the company’s stock, valued at $1,073,042.04. This trade represents a 36.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the sale, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,940 shares of company stock worth $7,088,351 over the last quarter. Corporate insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds have recently added to or reduced their stakes in HCP. Syquant Capital Sas bought a new stake in HashiCorp in the fourth quarter worth approximately $18,554,000. Principal Financial Group Inc. boosted its holdings in HashiCorp by 41.9% in the third quarter. Principal Financial Group Inc. now owns 11,516 shares of the company’s stock worth $390,000 after purchasing an additional 3,399 shares in the last quarter. Neo Ivy Capital Management acquired a new position in HashiCorp during the third quarter worth $2,400,000. Geode Capital Management LLC raised its holdings in HashiCorp by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after buying an additional 385,118 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in HashiCorp by 39.7% during the third quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock valued at $1,735,000 after buying an additional 14,555 shares in the last quarter. Institutional investors and hedge funds own 86.25% of the company’s stock.

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.