HashiCorp (NASDAQ:HCP) Reaches New 52-Week High – Time to Buy?

HashiCorp, Inc. (NASDAQ:HCP)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $34.47 and last traded at $34.46, with a volume of 313120 shares trading hands. The stock had previously closed at $34.37.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HCP shares. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. StockNews.com upgraded shares of HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, HashiCorp has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Up 0.1 %

The firm’s 50-day moving average price is $34.24 and its two-hundred day moving average price is $33.96. The firm has a market capitalization of $7.05 billion, a PE ratio of -56.56 and a beta of 1.18.

Insider Buying and Selling at HashiCorp

In other news, CTO Armon Dadgar sold 35,903 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.58, for a total value of $1,205,622.74. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,041,600. This represents a 2.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Mcjannet sold 47,526 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,229 shares of company stock valued at $3,441,256 in the last three months. 22.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HashiCorp

Several institutional investors and hedge funds have recently modified their holdings of HCP. Principal Financial Group Inc. boosted its position in HashiCorp by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 11,913 shares of the company’s stock valued at $408,000 after purchasing an additional 397 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of HashiCorp by 16.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,627 shares of the company’s stock worth $124,000 after purchasing an additional 524 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of HashiCorp by 10.0% during the 4th quarter. ProShare Advisors LLC now owns 7,877 shares of the company’s stock worth $269,000 after purchasing an additional 716 shares in the last quarter. KBC Group NV lifted its holdings in shares of HashiCorp by 25.8% during the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after buying an additional 731 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its stake in shares of HashiCorp by 9.0% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 9,226 shares of the company’s stock valued at $316,000 after buying an additional 765 shares in the last quarter. 86.25% of the stock is currently owned by hedge funds and other institutional investors.

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.