HashiCorp (NASDAQ:HCP) Hits New 52-Week High – What’s Next?

HashiCorp, Inc. (NASDAQ:HCP)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $34.47 and last traded at $34.43, with a volume of 184124 shares changing hands. The stock had previously closed at $34.37.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com upgraded shares of HashiCorp from a “hold” rating to a “buy” rating in a report on Monday. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.08.

HashiCorp Trading Up 0.0 %

The company has a 50-day moving average of $33.99 and a 200-day moving average of $33.84.

Insiders Place Their Bets

In related news, CEO David Mcjannet sold 47,526 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the sale, the chief executive officer now directly owns 465,978 shares of the company’s stock, 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 SEC, which is available at the SEC website. Also, CTO Armon Dadgar sold 17,800 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $34.23, for a total value of $609,294.00. Following the completion of the transaction, the chief technology officer now owns 31,348 shares in the company, valued at approximately $1,073,042.04. The trade was a 36.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,940 shares of company stock worth $7,088,351. Corporate insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Large investors have recently modified their holdings of the company. Westchester Capital Management LLC lifted its position in HashiCorp by 60.5% in the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock valued at $108,363,000 after acquiring an additional 1,206,073 shares in the last quarter. Geode Capital Management LLC boosted its holdings in HashiCorp by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after purchasing an additional 385,118 shares during the last quarter. State Street Corp grew its position in HashiCorp by 14.5% in the 3rd quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after purchasing an additional 282,965 shares in the last quarter. Alpine Associates Management Inc. increased its stake in HashiCorp by 48.7% in the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after buying an additional 701,350 shares during the last quarter. Finally, Magnetar Financial LLC bought a new position in shares of HashiCorp during the 2nd quarter worth approximately $71,490,000. 86.25% of the stock is currently owned by institutional investors.

About HashiCorp

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.