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

HashiCorp, Inc. (NASDAQ:HCP) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 7,490,000 shares, an increase of 6.8% from the May 31st total of 7,010,000 shares. Based on an average daily volume of 4,780,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 5.3% of the shares of the stock are short sold.

HashiCorp Trading Up 0.4 %

NASDAQ:HCP opened at $33.75 on Thursday. The company has a market cap of $6.79 billion, a price-to-earnings ratio of -35.16 and a beta of 1.25. HashiCorp has a twelve month low of $18.91 and a twelve month high of $34.05. The stock has a fifty day simple moving average of $33.29 and a 200-day simple moving average of $27.52.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. The company had revenue of $160.58 million during the quarter, compared to analyst estimates of $153.39 million. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. As a group, equities research analysts predict that HashiCorp will post -0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ledger Susan St. sold 3,264 shares of HashiCorp stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $33.45, for a total transaction of $109,180.80. Following the transaction, the insider now owns 146,242 shares in the company, valued at approximately $4,891,794.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Ledger Susan St. sold 3,264 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $33.45, for a total value of $109,180.80. Following the sale, the insider now directly owns 146,242 shares in the company, valued at $4,891,794.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Mcjannet sold 48,055 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total value of $1,598,309.30. Following the transaction, the chief executive officer now directly owns 373,330 shares of the company’s stock, valued at $12,416,955.80. The disclosure for this sale can be found here. Insiders sold a total of 359,266 shares of company stock worth $11,517,392 over the last three months. 22.49% of the stock is currently owned by company insiders.

Institutional Trading of HashiCorp

A number of large investors have recently modified their holdings of the company. Cetera Advisors LLC bought a new stake in HashiCorp during the 1st quarter valued at $379,000. Washington Harbour Partners LP raised its holdings in shares of HashiCorp by 72.5% in the first quarter. Washington Harbour Partners LP now owns 78,500 shares of the company’s stock valued at $2,116,000 after acquiring an additional 33,000 shares in the last quarter. Comerica Bank lifted its stake in HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after acquiring an additional 374 shares during the period. California State Teachers Retirement System grew its holdings in HashiCorp by 5.1% during the 1st quarter. California State Teachers Retirement System now owns 111,076 shares of the company’s stock worth $2,993,000 after acquiring an additional 5,372 shares in the last quarter. Finally, WPWealth LLP purchased a new position in HashiCorp during the 1st quarter valued at about $437,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on HCP shares. Bank of America lifted their price objective on shares of HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Needham & Company LLC reiterated a “hold” rating on shares of HashiCorp in a research report on Thursday, April 25th. Oppenheimer restated an “outperform” rating and set a $34.00 price objective on shares of HashiCorp in a research report on Wednesday, March 6th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Thursday, June 6th. Finally, StockNews.com started coverage on HashiCorp in a report on Tuesday. They set a “hold” rating on the stock. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.17.

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.