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

HashiCorp, Inc. (NASDAQ:HCP) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 11,890,000 shares, a growth of 20.5% from the November 15th total of 9,870,000 shares. Currently, 8.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,730,000 shares, the days-to-cover ratio is presently 6.9 days.

HashiCorp Trading Down 0.1 %

HCP opened at $33.78 on Monday. HashiCorp has a 12 month low of $20.89 and a 12 month high of $34.21. The stock has a fifty day moving average price of $33.81 and a 200-day moving average price of $33.74. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of -55.38 and a beta of 1.21.

Insiders Place Their Bets

In other HashiCorp news, insider Ledger Susan St. sold 22,232 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $5,676,558.48. This trade represents a 11.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Armon Dadgar sold 35,903 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.58, for a total value of $1,205,622.74. Following the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,041,600. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 352,291 shares of company stock valued at $11,912,497 over the last three months. 22.49% of the stock is owned by company insiders.

Institutional Trading of HashiCorp

Several hedge funds have recently modified their holdings of HCP. Westchester Capital Management LLC grew its position in shares of HashiCorp by 60.5% in the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock worth $108,363,000 after buying an additional 1,206,073 shares during the last quarter. Pentwater Capital Management LP acquired a new stake in HashiCorp in the second quarter valued at approximately $91,654,000. Geode Capital Management LLC grew its holdings in HashiCorp by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after purchasing an additional 385,118 shares during the last quarter. State Street Corp increased its position in shares of 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 purchasing an additional 282,965 shares in the last quarter. Finally, Alpine Associates Management Inc. lifted its holdings in shares of HashiCorp by 48.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after purchasing an additional 701,350 shares during the last quarter. 86.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on HCP shares. Citigroup began coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. Finally, StockNews.com initiated coverage on HashiCorp in a research note on Wednesday, December 11th. They issued a “hold” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.08.

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.