HashiCorp (NASDAQ:HCP) Hits New 1-Year High - What's Next?

HashiCorp, Inc. (NASDAQ:HCP - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $34.57 and last traded at $34.44, with a volume of 5498377 shares. The stock had previously closed at $34.50.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HCP shares. JMP Securities restated a "market perform" rating on shares of HashiCorp in a research note on Monday, December 16th. StockNews.com raised shares of HashiCorp from a "hold" rating to a "buy" rating in a research report on Monday, January 13th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $32.27.

HashiCorp Stock Performance

The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18. The firm has a fifty day moving average price of $34.31 and a 200 day moving average price of $34.00.

Insider Activity

In related news, CTO Armon Dadgar sold 35,903 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.58, for a total value of $1,205,622.74. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares of the company's stock, valued at $51,041,600. This trade represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $1,626,339.72. Following the completion of the transaction, the chief executive officer now owns 465,978 shares of the company's stock, valued at $15,945,767.16. This trade represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,229 shares of company stock worth $3,441,256. 22.49% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On HashiCorp

Several hedge funds have recently added to or reduced their stakes in HCP. Credit Industriel ET Commercial acquired a new position in HashiCorp during the 4th quarter valued at about $4,939,000. Alpine Global Management LLC bought a new stake in shares of HashiCorp during the fourth quarter worth approximately $1,710,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in HashiCorp by 55.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 428,975 shares of the company's stock valued at $14,675,000 after buying an additional 152,462 shares during the period. Woodline Partners LP boosted its stake in HashiCorp by 50.0% in the fourth quarter. Woodline Partners LP now owns 1,500,001 shares of the company's stock valued at $51,315,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in HashiCorp during the 4th quarter worth $1,070,000. Institutional investors own 86.25% 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.