HashiCorp (NASDAQ:HCP) Hits New 52-Week High – Should You Buy?

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

Analyst Ratings Changes

HCP has been the topic of a number of recent research reports. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a report on Monday. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Trading Up 0.2 %

The firm has a 50-day moving average of $33.98 and a two-hundred day moving average of $33.84. The firm has a market capitalization of $7.04 billion, a PE ratio of -56.47 and a beta of 1.18.

Insider Activity at HashiCorp

In related news, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the transaction, the chief executive officer now directly owns 465,978 shares in the company, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,467,200. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 208,940 shares of company stock worth $7,088,351. Corporate insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Several institutional investors have recently made changes to their positions in the stock. Xponance Inc. grew its position in HashiCorp by 3.1% in the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after purchasing an additional 305 shares during the last quarter. KBC Group NV grew its holdings in HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after buying an additional 731 shares in the last quarter. Victory Capital Management Inc. increased its position in HashiCorp by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock valued at $646,000 after acquiring an additional 873 shares during the period. Longfellow Investment Management Co. LLC bought a new stake in HashiCorp during the 3rd quarter valued at $38,000. Finally, Ashton Thomas Private Wealth LLC boosted its position in HashiCorp by 15.9% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 8,461 shares of the company’s stock worth $286,000 after acquiring an additional 1,160 shares during the period. 86.25% of the stock is owned by institutional investors.

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.