HashiCorp (NASDAQ:HCP) Reaches New 52-Week 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 $34.46 and last traded at $34.33, with a volume of 4553255 shares. The stock had previously closed at $34.32.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JMP Securities reaffirmed a "market perform" rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com started coverage on HashiCorp in a report on Sunday, December 29th. They issued a "hold" rating for the company. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $32.08.

HashiCorp Trading Up 0.0 %

The firm has a market cap of $7.02 billion, a price-to-earnings ratio of -56.28 and a beta of 1.18. The company has a fifty day moving average price of $33.95 and a 200-day moving average price of $33.82.

Insider Activity

In other HashiCorp news, CTO Armon Dadgar sold 17,800 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $34.23, for a total transaction of $609,294.00. Following the completion of the transaction, the chief technology officer now owns 31,348 shares of the company's stock, valued at $1,073,042.04. This represents a 36.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Mcjannet sold 47,526 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 465,978 shares of the company's stock, valued at $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. Insiders have sold 208,940 shares of company stock worth $7,088,351 in the last ninety days. Company insiders own 22.49% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in shares of HashiCorp by 41.9% during the 3rd quarter. Principal Financial Group Inc. now owns 11,516 shares of the company's stock valued at $390,000 after acquiring an additional 3,399 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of HashiCorp in the 3rd quarter valued at approximately $2,400,000. Geode Capital Management LLC increased its holdings in shares of HashiCorp by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company's stock worth $85,417,000 after buying an additional 385,118 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of HashiCorp by 39.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company's stock valued at $1,735,000 after buying an additional 14,555 shares during the period. Finally, K2 Principal Fund L.P. lifted its holdings in HashiCorp by 34.0% in the third quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company's stock valued at $3,994,000 after acquiring an additional 29,901 shares during the last quarter. 86.25% of the stock is currently owned by institutional investors and hedge funds.

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.