HashiCorp, Inc. (NASDAQ:HCP) Receives $31.17 Consensus Target Price from Analysts

Shares of HashiCorp, Inc. (NASDAQ:HCP) have earned an average recommendation of “Hold” from the fourteen research firms that are currently covering the stock, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $31.17.

HCP has been the subject of several research analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $35.00 price objective (up from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of HashiCorp in a research report on Thursday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Thursday, June 6th. Scotiabank reaffirmed a “sector perform” rating and issued a $35.00 price objective (up from $31.00) on shares of HashiCorp in a research report on Thursday, April 25th. Finally, StockNews.com started coverage on shares of HashiCorp in a research report on Friday, June 14th. They issued a “hold” rating for the company.

Insider Activity

In other news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $33.74, for a total transaction of $469,525.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction on Monday, June 10th. The shares were sold at an average price of $33.74, for a total value of $469,525.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Navam Welihinda sold 3,000 shares of HashiCorp stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $27.84, for a total transaction of $83,520.00. Following the completion of the sale, the chief financial officer now directly owns 93,925 shares in the company, valued at approximately $2,614,872. The disclosure for this sale can be found here. Insiders sold a total of 219,702 shares of company stock valued at $6,591,424 in the last three months. 22.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HashiCorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after acquiring an additional 1,501,953 shares during the period. Whale Rock Capital Management LLC boosted its stake in HashiCorp by 293.2% during the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after purchasing an additional 3,404,557 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its stake in HashiCorp by 53.3% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after purchasing an additional 1,161,600 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. boosted its stake in HashiCorp by 50.0% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after purchasing an additional 949,100 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in 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 last quarter. Institutional investors and hedge funds own 87.83% of the company’s stock.

HashiCorp Stock Down 0.1 %

Shares of HashiCorp stock opened at $33.56 on Monday. The firm has a market capitalization of $6.75 billion, a P/E ratio of -34.96 and a beta of 1.25. The company has a 50 day moving average price of $31.66 and a 200 day moving average price of $26.78. HashiCorp has a 52 week low of $18.91 and a 52 week high of $34.05.

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.