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

HashiCorp, Inc. (NASDAQ:HCP - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $34.47 and last traded at $34.26, with a volume of 401 shares trading hands. The stock had previously closed at $34.30.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com upgraded HashiCorp from a "hold" rating to a "buy" rating in a research note on Monday, January 13th. JMP Securities restated a "market perform" rating on shares of HashiCorp in a report on Monday, December 16th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $32.08.

HashiCorp Price Performance

The company has a 50 day simple moving average of $34.07 and a 200-day simple moving average of $33.90. The stock has a market capitalization of $7.00 billion, a P/E ratio of -56.12 and a beta of 1.18.

Insider Activity at HashiCorp

In other news, CTO Armon Dadgar sold 17,800 shares of the firm's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $34.23, for a total value of $609,294.00. Following the completion of the transaction, the chief technology officer now directly owns 31,348 shares of the company's stock, valued at $1,073,042.04. This trade represents a 36.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Mcjannet sold 47,526 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the sale, the chief executive officer now owns 465,978 shares in the company, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,132 shares of company stock worth $4,658,368. Company insiders own 22.49% of the company's stock.

Hedge Funds Weigh In On HashiCorp

Several hedge funds have recently bought and sold shares of HCP. Longfellow Investment Management Co. LLC bought a new position in HashiCorp in the 3rd quarter valued at $38,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HashiCorp in the third quarter worth $51,000. Blue Trust Inc. boosted its stake in HashiCorp by 331.2% during the fourth quarter. Blue Trust Inc. now owns 2,057 shares of the company's stock valued at $70,000 after buying an additional 1,580 shares during the period. KBC Group NV grew its position in HashiCorp by 25.8% during the third 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. Finally, Quest Partners LLC raised its holdings in shares of HashiCorp by 64.8% in the 3rd quarter. Quest Partners LLC now owns 5,837 shares of the company's stock valued at $198,000 after acquiring an additional 2,296 shares in the last quarter. Hedge funds and other institutional investors own 86.25% of the company's stock.

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.