HashiCorp (NASDAQ:HCP) Sets New 12-Month High - Here's What Happened

HashiCorp, Inc. (NASDAQ:HCP - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company 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.

Wall Street Analysts Forecast Growth

HCP has been the topic of several research analyst reports. JMP Securities reissued a "market perform" rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com upgraded shares of HashiCorp from a "hold" rating to a "buy" rating in a research report on Monday. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, HashiCorp has a consensus rating of "Hold" and an average price target of $32.08.

HashiCorp Stock Performance

The business has a fifty day simple moving average of $33.98 and a 200 day simple moving average of $33.84. The company has a market cap of $7.01 billion, a P/E ratio of -56.23 and a beta of 1.18.

Insider Activity at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the business's stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Mcjannet sold 47,526 shares of the company's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the sale, the chief executive officer now owns 465,978 shares of the company's stock, valued at $15,945,767.16. This represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,940 shares of company stock worth $7,088,351 over the last quarter. 22.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HashiCorp

Large investors have recently modified their holdings of the stock. Xponance Inc. boosted its stake in HashiCorp by 3.1% in the second quarter. Xponance Inc. now owns 10,271 shares of the company's stock worth $346,000 after purchasing an additional 305 shares in the last quarter. KBC Group NV grew its holdings in HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company's stock valued at $121,000 after purchasing an additional 731 shares during the period. Victory Capital Management Inc. grew its holdings in shares of 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 buying an additional 873 shares during the period. Longfellow Investment Management Co. LLC acquired a new stake in shares of HashiCorp during the third quarter worth about $38,000. Finally, Ashton Thomas Private Wealth LLC lifted its stake in HashiCorp by 15.9% in the third quarter. Ashton Thomas Private Wealth LLC now owns 8,461 shares of the company's stock valued at $286,000 after buying an additional 1,160 shares in the last quarter. 86.25% of the stock is currently 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.