JPMorgan Investment Management, I has recently announced that it has increased stake in HashiCorp Inc. (NASDAQ:HCP) by 55.53%. After grabbing 8.2 million shares, the institutional investor is now in possession of 2.93 million shares of the Technology Company. The new investment brought the stake of investor firm to 10.00% having worth around $219.8 million. Moreover, Baillie Gifford & Co. increased its share by 0.11 million to have a control over 7.28 million shares. And The Vanguard Group, Inc. raised its holdings to 0.36 million shares by acquiring 6.21 million shares or 7.58% of the stake.
HashiCorp Inc. (HCP) concluded trading on 05/25/23 at a closing price of $32.74, with 1.37 million shares of worth about $44.82 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 30.86% during that period and on Thursday the price saw a loss of about -0.15%. Currently the company’s common shares owned by public are about 188.74M shares, out of which, 87.94M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the HCP stock and their offered price forecasts bring an average price target of $36.53. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $42.00 and could fall to a lowest price of $32.00. The stock’s current price level is 11.06% above of average price target set by the analysts, while a rise to estimated low would result in loss of -2.31% for the stock. However, touching the estimated high of $42.00 would mean a gain of 22.05% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 206 times over the past 12 months. They bought 28,459,394 shares in 107 of the transactions. In 99 selling transactions, insiders dumped 25,750,936 shares.
Vanguard US Growth Fund, T Rowe Price New Horizons Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in HashiCorp Inc. Vanguard US Growth Fund is currently holding 3.01 million shares of worth totaling $80.68 million. The company recently came buying 0.0 shares which brought its stake up to 3.67% of the company’s outstanding shares. T Rowe Price New Horizons Fund sold -1.44 million shares, after which its hold over company’s outstanding shares shrunk to 3.66%, leaving 3.0 million shares with the mutual fund that have a worth of about $80.32 million. Vanguard Total Stock Market ETF, after buying 2.04 million shares, have now control over 2.49% of the stake in the company. It holds 998.0 shares of worth $54.74 million.
HashiCorp Inc. (NASDAQ: HCP) started trading at $33.58, above $0.79 from concluding price of the previous day. However, the stock later moved at a day high price of 33.96, or with a loss of -0.15%. Stock saw a price change of 0.28% in past 5 days and over the past one month there was a price change of 19.10%. Year-to-date (YTD), HCP shares are showing a performance of 19.75% which increased to 5.75% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $21.50 but also hit the highest price of $44.34 during that period. The average intraday trading volume for HashiCorp Inc. shares is 1.35 million. The stock is currently trading 7.84% above its 20-day simple moving average (SMA20), while that difference is up 12.61% for SMA50 and it goes to 8.90% higher than SMA200.
JPMorgan Investment Management, I acquired 8.2 million shares of HashiCorp Inc. having value of about $219.8 million. Data submitted at the U.S SEC by JPMorgan Investment Management, I revealed that the firm now holds 2.93 million shares in the company valued at close to $95830340.14, or have control over 55.53% stake in the company. HashiCorp Inc. (NASDAQ: HCP) currently have 188.74M outstanding shares and institutions hold larger chunk of about 74.60% of that. Holding of mutual funds in the company is about 44.20% while other institutional holders and individual stake holders have control over 47.25% and 3.88% of the stake respectively.
The stock has a current market capitalization of $6.25B. It has posted earnings per share of -$1.48 in the same period. It has Quick Ratio of 4.00 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for HCP, volatility over the week remained 3.75% while standing at 4.53% over the month.
Analysts are in expectations that HashiCorp Inc. (HCP) stock would likely to be making an EPS of -$0.14 in the current quarter, while forecast for next quarter EPS is -$0.12 and it is -$0.09 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.14 which is -$0.13 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.17 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 7.40% while it is estimated to increase by 76.90% in next year.
Analysts at 19 brokerage firms have issued recommendations for the HashiCorp Inc. (HCP)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 19 Wall Street analysts, 12 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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