HashiCorp, Inc. (NASDAQ:HCP) Short Interest Down 9.1% in October

HashiCorp, Inc. (NASDAQ:HCP) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 10,480,000 shares, a decline of 9.1% from the October 15th total of 11,530,000 shares. Approximately 7.0% of the shares of the stock are sold short. Based on an average trading volume of 1,880,000 shares, the days-to-cover ratio is currently 5.6 days.

Analyst Upgrades and Downgrades

HCP has been the topic of several recent analyst reports. StockNews.com began coverage on HashiCorp in a report on Sunday. They issued a “hold” rating on the stock. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Citigroup assumed coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Finally, Piper Sandler restated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $32.08.

HashiCorp Stock Down 0.4 %

Shares of NASDAQ:HCP traded down $0.14 on Monday, reaching $33.60. 1,796,983 shares of the company’s stock were exchanged, compared to its average volume of 3,025,867. HashiCorp has a fifty-two week low of $19.26 and a fifty-two week high of $34.21. The business’s 50-day moving average is $33.88 and its two-hundred day moving average is $33.65. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of -44.99 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. During the same period in the prior year, the business earned ($0.34) EPS. The firm’s revenue was up 15.3% on a year-over-year basis. Analysts predict that HashiCorp will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Monday, November 4th. The stock was sold at an average price of $33.86, for a total value of $1,215,709.44. Following the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,467,200. The trade was a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ledger Susan St. sold 22,232 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $752,330.88. Following the completion of the transaction, the insider now directly owns 167,747 shares in the company, valued at $5,676,558.48. The trade was a 11.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 371,209 shares of company stock worth $12,559,456. 22.49% of the stock is owned by insiders.

Institutional Trading of HashiCorp

Institutional investors have recently modified their holdings of the company. Longfellow Investment Management Co. LLC acquired a new stake in HashiCorp during the 3rd quarter worth about $38,000. American Capital Advisory LLC acquired a new position in HashiCorp in the 2nd quarter worth approximately $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in HashiCorp during the 3rd quarter worth approximately $51,000. Advisors Asset Management Inc. lifted its holdings in shares of HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after purchasing an additional 961 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after buying an additional 3,480 shares during the period. Institutional investors and hedge funds own 87.83% 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.