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

HashiCorp, Inc. (NASDAQ:HCP) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 9,870,000 shares, a decline of 5.8% from the October 31st total of 10,480,000 shares. Based on an average daily trading volume, of 1,780,000 shares, the short-interest ratio is presently 5.5 days. Approximately 6.6% of the shares of the company are short sold.

Analyst Ratings Changes

Several brokerages have recently commented on HCP. StockNews.com started coverage on shares of HashiCorp in a research note on Friday, November 29th. They issued a “hold” rating on the stock. Citigroup initiated coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, Piper Sandler restated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, HashiCorp presently has a consensus rating of “Hold” and a consensus price target of $32.08.

HashiCorp Price Performance

Shares of HashiCorp stock opened at $33.57 on Wednesday. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -44.76 and a beta of 1.21. HashiCorp has a one year low of $19.26 and a one year high of $34.21. The stock’s 50-day moving average is $33.84 and its 200-day moving average is $33.72.

Insiders Place Their Bets

In other HashiCorp news, CFO Navam Welihinda sold 18,167 shares of HashiCorp stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $614,771.28. Following the sale, the chief financial officer now directly owns 105,883 shares of the company’s stock, valued at approximately $3,583,080.72. The trade was a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ledger Susan St. sold 22,232 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $752,330.88. Following the completion of the sale, the insider now owns 167,747 shares in the company, valued at approximately $5,676,558.48. This represents a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 330,304 shares of company stock worth $11,177,235 over the last 90 days. Corporate insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Several hedge funds have recently made changes to their positions in HCP. Neo Ivy Capital Management bought a new position in HashiCorp in the third quarter valued at $2,400,000. Geode Capital Management LLC grew its holdings in shares of HashiCorp by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after acquiring an additional 385,118 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of HashiCorp by 39.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock valued at $1,735,000 after acquiring an additional 14,555 shares in the last quarter. K2 Principal Fund L.P. increased its position in shares of HashiCorp by 34.0% in the third quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company’s stock valued at $3,994,000 after acquiring an additional 29,901 shares during the last quarter. Finally, State Street Corp raised its holdings in HashiCorp by 14.5% during the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after acquiring an additional 282,965 shares in the last quarter. 87.83% of the stock is owned by institutional investors.

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.