HashiCorp Target of Unusually High Options Trading (NASDAQ:HCP)

HashiCorp, Inc. (NASDAQ:HCP) saw unusually large options trading on Wednesday. Investors acquired 27,673 call options on the stock. This is an increase of 794% compared to the typical daily volume of 3,096 call options.

Insiders Place Their Bets

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $23.02, for a total transaction of $826,510.08. Following the sale, the chief technology officer now directly owns 1,804,780 shares of the company’s stock, valued at approximately $41,546,035.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $23.02, for a total transaction of $826,510.08. Following the sale, the chief technology officer now directly owns 1,804,780 shares in the company, valued at approximately $41,546,035.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Mcjannet sold 33,331 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $27.38, for a total value of $912,602.78. Following the sale, the chief executive officer now owns 326,912 shares in the company, valued at $8,950,850.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 267,427 shares of company stock valued at $6,728,242. Company insiders own 26.13% of the company’s stock.

Institutional Trading of HashiCorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in HashiCorp in the 3rd quarter valued at approximately $309,000. Qsemble Capital Management LP acquired a new stake in HashiCorp in the 3rd quarter valued at approximately $1,119,000. Artemis Investment Management LLP acquired a new stake in HashiCorp in the 4th quarter valued at approximately $7,124,000. Vanguard Group Inc. increased its holdings in HashiCorp by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after purchasing an additional 455,179 shares during the last quarter. Finally, Versor Investments LP acquired a new position in shares of HashiCorp in the third quarter worth $491,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

HashiCorp Price Performance

Shares of NASDAQ HCP opened at $32.82 on Friday. The company has a 50 day simple moving average of $25.90 and a 200-day simple moving average of $23.37. The company has a market capitalization of $6.55 billion, a P/E ratio of -33.49 and a beta of 1.42. HashiCorp has a 1 year low of $18.91 and a 1 year high of $36.39.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. The business had revenue of $155.78 million during the quarter, compared to the consensus estimate of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. As a group, research analysts expect that HashiCorp will post -0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HCP shares. Bank of America raised their price target on shares of HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com raised shares of HashiCorp from a “sell” rating to a “hold” rating in a research note on Monday. Scotiabank reaffirmed a “sector perform” rating and issued a $35.00 price target (up from $31.00) on shares of HashiCorp in a research note on Thursday. Stifel Nicolaus raised their price target on shares of HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $34.00 price target on shares of HashiCorp in a research note on Wednesday, March 6th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.77.

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.