HashiCorp, Inc. (NASDAQ:HCP) Short Interest Update

by · The Cerbat Gem

HashiCorp, Inc. (NASDAQ:HCP – Get Free Report) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 13,450,000 shares, an increase of 10.8% from the September 15th total of 12,140,000 shares. Based on an average daily volume of 2,370,000 shares, the days-to-cover ratio is presently 5.7 days. Currently, 9.0% of the company’s stock are short sold.

HashiCorp Trading Down 0.3 %

HCP stock traded down $0.10 during midday trading on Wednesday, reaching $33.76. 3,550,704 shares of the company’s stock traded hands, compared to its average volume of 3,202,541. The stock’s 50-day moving average is $33.84 and its 200 day moving average is $32.57. The stock has a market cap of $6.79 billion, a P/E ratio of -35.17 and a beta of 1.25. HashiCorp has a 52-week low of $18.91 and a 52-week high of $34.06.

HashiCorp (NASDAQ:HCP – Get Free Report) last announced its earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The company had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same period last year, the firm earned ($0.34) EPS. HashiCorp’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, research analysts expect that HashiCorp will post -0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HCP has been the subject of several recent analyst reports. Piper Sandler restated a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. StockNews.com started coverage on HashiCorp in a research report on Saturday. They issued a “hold” rating for the company. Citigroup began coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $32.08.

Read Our Latest Research Report on HashiCorp

Insiders Place Their Bets

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00. Following the completion of the transaction, the chief financial officer now owns 91,485 shares in the company, valued at approximately $3,064,747.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Ledger Susan St. sold 22,232 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $752,330.88. Following the transaction, the insider now owns 167,747 shares in the company, valued at approximately $5,676,558.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total transaction of $167,500.00. Following the sale, the chief financial officer now directly owns 91,485 shares of the company’s stock, valued at $3,064,747.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 390,125 shares of company stock worth $13,178,494. 22.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCP. Xponance Inc. increased its stake in HashiCorp by 3.1% in the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after buying an additional 305 shares in the last quarter. Comerica Bank raised its stake in HashiCorp by 2.1% during the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after purchasing an additional 374 shares during the period. Advisors Asset Management Inc. lifted its holdings in HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after purchasing an additional 961 shares in the last quarter. Arizona State Retirement System boosted its stake in HashiCorp by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock worth $1,075,000 after purchasing an additional 1,065 shares during the period. Finally, American Capital Advisory LLC bought a new position in HashiCorp in the 2nd quarter worth approximately $40,000. 87.83% of the stock is owned by hedge funds and other institutional investors.

About HashiCorp

(Get Free Report)

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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