Short Interest in HashiCorp, Inc. (NASDAQ:HCP) Rises By 10.8%

HashiCorp, Inc. (NASDAQ:HCP) was the target of a large increase in short interest in 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. Approximately 9.0% of the shares of the stock are sold short. Based on an average daily volume of 2,370,000 shares, the days-to-cover ratio is presently 5.7 days.

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $33.50, for a total value of $1,202,784.00. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $50,920,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 91,485 shares in the company, valued at $3,064,747.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Armon Dadgar sold 35,904 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 $1,202,784.00. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $50,920,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 390,125 shares of company stock worth $13,178,494 in the last 90 days. 22.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HashiCorp

Several hedge funds have recently made changes to their positions in the company. Renaissance Capital LLC boosted its stake in shares of HashiCorp by 76.0% during the third quarter. Renaissance Capital LLC now owns 152,143 shares of the company’s stock valued at $5,152,000 after purchasing an additional 65,717 shares in the last quarter. Kapitalo Investimentos Ltda grew its holdings in shares of HashiCorp by 123.1% during the third quarter. Kapitalo Investimentos Ltda now owns 373,882 shares of the company’s stock valued at $12,660,000 after buying an additional 206,307 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HashiCorp in the third quarter worth about $51,000. Wedmont Private Capital acquired a new stake in HashiCorp during the 3rd quarter valued at approximately $344,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of HashiCorp by 2,195.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 968,500 shares of the company’s stock valued at $32,629,000 after acquiring an additional 926,300 shares during the last quarter. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup assumed coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target for the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. StockNews.com assumed coverage on HashiCorp in a report on Saturday. They set a “hold” rating on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research note on Friday, August 30th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, HashiCorp presently has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Trading Down 0.3 %

Shares of HCP traded down $0.10 during trading hours on Wednesday, reaching $33.76. 3,550,704 shares of the company traded hands, compared to its average volume of 3,202,541. The stock’s fifty day moving average price is $33.84 and its 200 day moving average price is $32.57. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of -35.17 and a beta of 1.25. HashiCorp has a 12-month low of $18.91 and a 12-month high of $34.06.

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