Stock Traders Purchase High Volume of Call Options on HashiCorp (NASDAQ:HCP)

HashiCorp, Inc. (NASDAQ:HCP) saw some unusual options trading on Wednesday. Traders bought 27,673 call options on the company. This represents an increase of approximately 794% compared to the average volume of 3,096 call options.

Insider Buying and Selling at HashiCorp

In other news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total value of $365,990.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total value of $365,990.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ledger Susan St. sold 17,895 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $27.39, for a total transaction of $490,144.05. Following the sale, the insider now owns 121,702 shares in the company, valued at $3,333,417.78. The disclosure for this sale can be found here. Insiders have sold 224,173 shares of company stock worth $5,641,396 over the last quarter. 26.13% of the stock is currently owned by company insiders.

Institutional Trading of HashiCorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of HashiCorp by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock valued at $253,484,000 after buying an additional 999,671 shares during the period. Optimus Prime Fund Management Co. Ltd. raised its holdings in HashiCorp by 50.0% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after acquiring an additional 949,100 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of HashiCorp by 35.7% during the 4th quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock worth $64,350,000 after purchasing an additional 716,574 shares during the period. TimesSquare Capital Management LLC boosted its holdings in shares of HashiCorp by 10.4% during the fourth quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock worth $63,775,000 after purchasing an additional 254,720 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in shares of HashiCorp by 16.2% in the fourth quarter. Federated Hermes Inc. now owns 2,112,284 shares of the company’s stock valued at $49,934,000 after purchasing an additional 294,484 shares during the period. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on HCP. Morgan Stanley raised HashiCorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $23.00 to $30.00 in a research report on Monday, February 26th. Citigroup upped their target price on shares of HashiCorp from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, January 22nd. Bank of America boosted their price target on shares of HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday. Needham & Company LLC lifted their target price on HashiCorp from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, TD Cowen upped their target price on HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.08.

HashiCorp Price Performance

Shares of HCP stock traded up $2.55 during midday trading on Wednesday, reaching $31.70. 9,207,956 shares of the company traded hands, compared to its average volume of 2,531,398. The firm’s 50 day simple moving average is $25.59 and its two-hundred day simple moving average is $23.25. The firm has a market cap of $6.33 billion, a PE ratio of -32.41 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 released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.06. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. The business had revenue of $155.78 million during the quarter, compared to the consensus estimate of $149.47 million. As a group, research analysts anticipate that HashiCorp will post -0.8 earnings per share for the current fiscal year.

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.