HashiCorp (NASDAQ:HCP) Reaches New 52-Week High – Should You Buy?

HashiCorp, Inc. (NASDAQ:HCP)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $34.39 and last traded at $34.38, with a volume of 2306720 shares changing hands. The stock had previously closed at $34.17.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HCP. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com initiated coverage on shares of HashiCorp in a research report on Sunday, December 29th. They issued a “hold” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Up 0.6 %

The stock’s 50 day moving average price is $33.92 and its 200-day moving average price is $33.79. The stock has a market capitalization of $7.03 billion, a PE ratio of -56.36 and a beta of 1.18.

Insider Activity at HashiCorp

In related news, CEO David Mcjannet sold 47,526 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the transaction, the chief executive officer now directly owns 465,978 shares in the company, valued at $15,945,767.16. The trade was a 9.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $33.82, for a total transaction of $1,214,273.28. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,406,400. This represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,940 shares of company stock valued at $7,088,351 over the last ninety days. 22.49% of the stock is owned by company insiders.

Institutional Trading of HashiCorp

Institutional investors have recently bought and sold shares of the business. Longfellow Investment Management Co. LLC acquired a new stake in HashiCorp during the 3rd quarter worth $38,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HashiCorp in the third quarter valued at approximately $51,000. Quest Partners LLC lifted its position in HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares in the last quarter. KBC Group NV boosted its stake in HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after buying an additional 731 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV acquired a new stake in shares of HashiCorp in the 3rd quarter worth $205,000. 86.25% of the stock is owned by institutional investors and hedge funds.

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.