Short Interest in HashiCorp, Inc. (NASDAQ:HCP) Decreases By 14.3%

HashiCorp, Inc. (NASDAQ:HCP - Get Free Report) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 11,530,000 shares, a decrease of 14.3% from the September 30th total of 13,450,000 shares. Currently, 7.7% of the shares of the company are sold short. Based on an average trading volume of 2,170,000 shares, the short-interest ratio is currently 5.3 days.

Insider Activity

In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the sale, the chief executive officer now directly owns 419,531 shares of the company's stock, valued at approximately $14,196,929.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the sale, the chief executive officer now owns 419,531 shares in the company, valued at approximately $14,196,929.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $33.71, for a total transaction of $1,210,323.84. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,239,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,125 shares of company stock valued at $13,022,483 in the last ninety days. Insiders own 22.49% of the company's stock.

Hedge Funds Weigh In On HashiCorp

Hedge funds have recently made changes to their positions in the stock. Whale Rock Capital Management LLC boosted its holdings in HashiCorp by 293.2% during the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company's stock valued at $123,046,000 after acquiring an additional 3,404,557 shares during the period. Pentwater Capital Management LP purchased a new position in shares of HashiCorp in the second quarter valued at approximately $91,654,000. Magnetar Financial LLC purchased a new position in shares of HashiCorp in the second quarter valued at approximately $71,490,000. Champlain Investment Partners LLC acquired a new position in shares of HashiCorp in the first quarter valued at approximately $48,995,000. Finally, Vanguard Group Inc. increased its stake in HashiCorp by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company's stock worth $329,454,000 after buying an additional 1,501,953 shares during the period. Hedge funds and other institutional investors own 87.83% of the company's stock.

Analysts Set New Price Targets

HCP has been the subject of a number of research analyst reports. Piper Sandler restated a "neutral" rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup initiated coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a "neutral" rating and a $35.00 price target for the company. StockNews.com began coverage on HashiCorp in a report on Thursday, October 24th. They issued a "hold" rating on the stock. Finally, JMP Securities reissued a "market perform" rating on shares of HashiCorp in a report on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $32.08.

HashiCorp Stock Performance

Shares of HCP stock traded up $0.01 on Tuesday, hitting $33.91. 1,386,476 shares of the stock traded hands, compared to its average volume of 3,139,183. HashiCorp has a twelve month low of $18.91 and a twelve month high of $34.06. The firm's 50-day moving average price is $33.85 and its two-hundred day moving average price is $33.12. The stock has a market capitalization of $6.82 billion, a PE ratio of -35.32 and a beta of 1.25.

HashiCorp (NASDAQ:HCP - Get Free Report) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The firm had revenue of $165.14 million for the quarter, compared to analysts' expectations of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.34) earnings per share. On average, equities research analysts anticipate that HashiCorp will post -0.48 EPS for the current fiscal year.

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.