Short Interest in HashiCorp, Inc. (NASDAQ:HCP) Rises By 20.5%

HashiCorp, Inc. (NASDAQ:HCP) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 11,890,000 shares, a growth of 20.5% from the November 15th total of 9,870,000 shares. Currently, 8.0% of the company’s stock are short sold. Based on an average trading volume of 1,730,000 shares, the days-to-cover ratio is presently 6.9 days.

HashiCorp Trading Down 0.1 %

NASDAQ:HCP opened at $33.78 on Monday. HashiCorp has a 12-month low of $20.89 and a 12-month high of $34.21. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of -55.38 and a beta of 1.21. The company’s 50-day moving average is $33.81 and its two-hundred day moving average is $33.74.

Insider Buying and Selling

In other HashiCorp news, CTO Armon Dadgar sold 22,779 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 transaction of $770,841.36. Following the completion of the sale, the chief technology officer now directly owns 44,934 shares of the company’s stock, valued at $1,520,566.56. This represents a 33.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Marc Holmes sold 13,782 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total value of $465,969.42. Following the sale, the chief marketing officer now directly owns 8,754 shares of the company’s stock, valued at approximately $295,972.74. This represents a 61.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 352,291 shares of company stock worth $11,912,497 in the last ninety days. 22.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HashiCorp

Several institutional investors and hedge funds have recently modified their holdings of HCP. Pentwater Capital Management LP acquired a new stake in shares of HashiCorp in the second quarter worth approximately $91,654,000. Magnetar Financial LLC acquired a new position in shares of HashiCorp in the 2nd quarter valued at $71,490,000. ING Groep NV grew its stake in shares of HashiCorp by 851.2% during the 3rd quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock valued at $56,587,000 after buying an additional 1,495,500 shares during the period. Alpine Associates Management Inc. acquired a new stake in shares of HashiCorp during the 2nd quarter worth $48,541,000. Finally, Westchester Capital Management LLC raised its position in shares of HashiCorp by 60.5% in the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock worth $108,363,000 after buying an additional 1,206,073 shares during the period. Hedge funds and other institutional investors own 86.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HCP shares. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. StockNews.com started coverage on HashiCorp in a research report on Wednesday, December 11th. They issued a “hold” rating for the company. Piper Sandler restated a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup started coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.08.

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.