HashiCorp (NASDAQ:HCP) Sees Strong Trading Volume - Still a Buy?

HashiCorp, Inc. (NASDAQ:HCP - Get Free Report) saw an uptick in trading volume on Wednesday . 4,500,009 shares changed hands during mid-day trading, an increase of 31% from the previous session's volume of 3,447,709 shares.The stock last traded at $34.81 and had previously closed at $34.81.

Analyst Ratings Changes

Several brokerages recently issued reports on HCP. JMP Securities restated 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 report on Monday, January 13th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $32.27.

HashiCorp Stock Performance

The stock has a market capitalization of $7.11 billion, a P/E ratio of -57.02 and a beta of 1.18. The company's 50-day moving average price is $34.32 and its 200 day moving average price is $34.01.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 47,526 shares of HashiCorp 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction that occurred on Monday, December 2nd. The stock was 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 directly owns 1,520,000 shares in the company, valued at approximately $51,041,600. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,229 shares of company stock valued at $3,441,256 in the last 90 days. Insiders own 22.49% of the company's stock.

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Institutional Trading of HashiCorp

A number of large investors have recently added to or reduced their stakes in HCP. Longfellow Investment Management Co. LLC bought a new stake in HashiCorp in the 3rd quarter worth approximately $38,000. Blue Trust Inc. boosted its holdings in shares of HashiCorp by 331.2% in the 4th quarter. Blue Trust Inc. now owns 2,057 shares of the company's stock worth $70,000 after purchasing an additional 1,580 shares during the period. KBC Group NV boosted its holdings in shares of HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company's stock worth $121,000 after purchasing an additional 731 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of HashiCorp by 16.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,627 shares of the company's stock worth $124,000 after purchasing an additional 524 shares during the period. Finally, Quest Partners LLC boosted 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 worth $198,000 after purchasing an additional 2,296 shares during the period. 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.