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.
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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.
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
(
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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.
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