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

HashiCorp, Inc. (NASDAQ:HCP) was the target 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 average volume of 3,096 call options.

HashiCorp Stock Up 8.7 %

Shares of HashiCorp stock traded up $2.55 on Wednesday, hitting $31.70. The stock had a trading volume of 9,207,956 shares, compared to its average volume of 2,531,398. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of -32.41 and a beta of 1.42. The business’s 50 day moving average is $25.59 and its two-hundred day moving average is $23.25. HashiCorp has a twelve month low of $18.91 and a twelve month 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, beating 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 for the quarter, compared to analyst estimates of $149.47 million. As a group, equities analysts predict that HashiCorp will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TD Cowen lifted their price objective on HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Stifel Nicolaus lifted their price target on shares of HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. KeyCorp started coverage on HashiCorp in a research note on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Morgan Stanley upgraded HashiCorp from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $23.00 to $30.00 in a research note on Monday, February 26th. Finally, Needham & Company LLC upped their price target on HashiCorp from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.08.

Insider Activity

In other news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the chief financial officer now owns 62,844 shares in the company, valued at $1,571,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the chief financial officer now owns 62,844 shares of the company’s stock, valued at approximately $1,571,100. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $24.99, for a total transaction of $347,760.84. 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 90 days. 26.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ronald Blue Trust Inc. increased its holdings in HashiCorp by 327.8% in the third quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock valued at $47,000 after purchasing an additional 1,570 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of HashiCorp by 35.4% during the third 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. Industry Ventures L.L.C. acquired a new position in shares of HashiCorp in the fourth quarter worth approximately $157,000. Victory Capital Management Inc. boosted its holdings in HashiCorp by 35.5% in the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after acquiring an additional 2,768 shares during the last quarter. Finally, Xponance Inc. increased its position in HashiCorp by 6.7% during the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after purchasing an additional 673 shares during the period. Institutional investors and hedge funds own 87.83% of the company’s stock.

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.