HashiCorp Target of Unusually High Options Trading (NASDAQ:HCP)

HashiCorp, Inc. (NASDAQ:HCP) saw some unusual options trading on Wednesday. Investors purchased 27,673 call options on the stock. This is an increase of approximately 794% compared to the typical daily volume of 3,096 call options.

Insider Activity at HashiCorp

In related news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $21.82, for a total transaction of $783,425.28. Following the sale, the chief technology officer now directly owns 1,768,876 shares in the company, valued at $38,596,874.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David Mcjannet sold 33,331 shares of HashiCorp stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.38, for a total transaction of $912,602.78. Following the sale, the chief executive officer now directly owns 326,912 shares in the company, valued at $8,950,850.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $21.82, for a total value of $783,425.28. Following the sale, the chief technology officer now owns 1,768,876 shares in the company, valued at $38,596,874.32. The disclosure for this sale can be found here. Insiders have sold a total of 267,427 shares of company stock valued at $6,728,242 over the last 90 days. Insiders own 26.13% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Treasurer of the State of North Carolina lifted its stake in shares of HashiCorp by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after acquiring an additional 420 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after acquiring an additional 615 shares during the last quarter. Xponance Inc. lifted its stake in shares of HashiCorp by 6.7% in the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after acquiring an additional 673 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of HashiCorp by 8.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,302 shares of the company’s stock valued at $281,000 after acquiring an additional 918 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in HashiCorp by 10.0% during the 3rd quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock valued at $246,000 after purchasing an additional 978 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

HashiCorp Trading Up 4.5 %

HCP opened at $32.82 on Friday. The stock has a 50-day moving average price of $25.90 and a 200-day moving average price of $23.37. HashiCorp has a 12-month low of $18.91 and a 12-month high of $36.39. The stock has a market capitalization of $6.55 billion, a P/E ratio of -33.49 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. The firm had revenue of $155.78 million during the quarter, compared to analysts’ expectations of $149.47 million. On average, equities research analysts predict that HashiCorp will post -0.8 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on HCP. Piper Sandler boosted their target price on HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday. StockNews.com upgraded HashiCorp from a “sell” rating to a “hold” rating in a research note on Monday. Oppenheimer reiterated an “outperform” rating and set a $34.00 price objective on shares of HashiCorp in a research note on Wednesday, March 6th. JMP Securities reiterated a “market outperform” rating and set a $38.00 price objective on shares of HashiCorp in a research note on Thursday, March 7th. Finally, TD Cowen boosted their price objective on HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.77.

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.