The Vanguard Group, Inc. recently announced the acquisition of new stake in HashiCorp Inc (NASDAQ:HCP). The institutional investor has increased its shareholding in the Technology company by 4.63% to 9.58 million shares with purchase of 0.42 million shares. This fresh investment now brings its stake to 8.76% valued currently at $188.57 million. In addition, BlackRock Fund Advisors raised its holdings by 0.13 million to 4.22 million shares. And GIC Pte Ltd. has lifted its position by 177.82% or 1.71 million shares – to 2.67 million shares.
With over 17.44 million HashiCorp Inc (HCP) shares trading Friday and a closing price of $20.81 on the day, the dollar volume was approximately $362.88 million. The shares have shown a negative half year performance of -21.83% and its price on 12/08/23 lost nearly -16.43%. Currently, there are 195.53M common shares owned by the public and among those 101.87M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for HCP have a consensus price objective of $25.80. The analysts have set the share’s price value over the next 12 months at a high of $38.00 and a low of $20.00. The average price target is 18.07% above its recent price level and a downside to the estimated low will see the stock lose -4.05% over that period. But an upside of 45.24% will see the stock hit the forecast high price target while median target price for the stock is $25.00.
Insiders at the company have transacted a total of 250 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 123 of these insider trades were purchases, accounting for 23,626,666 shares. Insider sales of the common stock occurred on 127 occasions, with total insider shares sold totaling 22,874,348 shares.
The top 3 mutual fund holders in HashiCorp Inc are Vanguard Total Stock Market ETF, Vanguard US Growth Fund, and Fidelity Select Port. – Technolog. Vanguard Total Stock Market ETF owns 2.85 million shares of the company’s stock, all valued at over $56.09 million. The company bought an additional 5630.0 shares recently to bring their total holdings to about 2.61% of the shares outstanding. Vanguard US Growth Fund sold -0.27 million shares to see its total holdings shrink to 2.83 million shares valued at over $55.71 million and representing 2.59% of the shares outstanding. Fidelity Select Port. – Technolog now owns shares totaling to 2.35% of the shares outstanding.
Shares of HashiCorp Inc (NASDAQ: HCP) opened at $19.80, down -$5.1 from a prior closing price of $24.90. However, the script later moved the day high at 21.20, down -16.43%. The company’s stock has a 5-day price change of -13.36% and -20.45% over the past three months. HCP shares are trading -23.88% year to date (YTD), with the 12-month market performance down to -22.12% lower. It has a 12-month low price of $18.91 and touched a high of $37.31 over the same period. HCP has an average intraday trading volume of 2.04 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.32%, -2.63%, and -22.14% respectively.
Institutional ownership of HashiCorp Inc (NASDAQ: HCP) shares accounts for 45.71% of the company’s 195.53M shares outstanding. Mutual fund holders own 40.12%, while other institutional holders and individual stakeholders account for 41.94% and 3.28% respectively.
It has a market capitalization of $4.07B and a beta (3y monthly) value of 1.27. The earnings-per-share (ttm) stands at -$1.09. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.09% over the week and 4.13% over the month.
Analysts forecast that HashiCorp Inc (HCP) will achieve an EPS of $HashiCorp, Inc. for the current quarter, $20.81 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $HCA Healthcare, Inc. while analysts give the company a high EPS estimate of $Helmerich & Payne, Inc.. Comparatively, EPS for the current quarter was $Warrior Met Coal, Inc. a year ago. Earnings per share for the fiscal year are expected to increase by 75.49%, and 195.69% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate HashiCorp Inc (HCP) as a “Moderate Buy” at a consensus score of 2.06. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 9 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the HCP, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on December 08, 2023, with the firm’s price target at $36-$27.
