Investors Buy High Volume of Call Options on HashiCorp (NASDAQ:HCP)

HashiCorp, Inc. (NASDAQ:HCP) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 27,673 call options on the company. This represents an increase of approximately 794% compared to the typical daily volume of 3,096 call options.

Insider Buying and Selling at HashiCorp

In related news, insider Ledger Susan St. sold 17,895 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $27.39, for a total transaction of $490,144.05. Following the transaction, the insider now owns 121,702 shares in the company, valued at $3,333,417.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the chief financial officer now owns 62,844 shares of the company’s stock, valued at $1,571,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ledger Susan St. sold 17,895 shares of the business’s stock in a transaction dated 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 directly owns 121,702 shares in the company, valued at approximately $3,333,417.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,077 shares of company stock worth $6,597,742. 26.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HashiCorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Treasurer of the State of North Carolina lifted its position in HashiCorp by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after purchasing an additional 420 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after acquiring an additional 615 shares during the last quarter. Xponance Inc. lifted its holdings in shares of HashiCorp by 6.7% in the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after acquiring an additional 673 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of HashiCorp by 8.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,302 shares of the company’s stock worth $281,000 after acquiring an additional 918 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of HashiCorp by 10.0% in the 3rd quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock worth $246,000 after acquiring an additional 978 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

HashiCorp Price Performance

Shares of NASDAQ HCP opened at $31.41 on Thursday. The firm has a fifty day moving average price of $25.73 and a 200-day moving average price of $23.30. The stock has a market cap of $6.27 billion, a PE ratio of -32.05 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 issued its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. The firm had revenue of $155.78 million during the quarter, compared to analyst estimates of $149.47 million. On average, research analysts expect that HashiCorp will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Oppenheimer reiterated an “outperform” rating and issued a $34.00 target price on shares of HashiCorp in a research note on Wednesday, March 6th. Bank of America upped their target price on shares of HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday. Morgan Stanley upgraded shares of HashiCorp from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $23.00 to $30.00 in a research note on Monday, February 26th. Finally, Citigroup upped their target price on shares of HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 22nd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.08.

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.