HashiCorp (NASDAQ:HCP) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a report issued on Tuesday morning. The firm issued a hold rating on the stock.

A number of other analysts also recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of HashiCorp from $26.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Needham & Company LLC reiterated a hold rating on shares of HashiCorp in a report on Thursday, April 25th. KeyCorp started coverage on shares of HashiCorp in a report on Tuesday, March 19th. They set a sector weight rating on the stock. Bank of America upped their price target on shares of HashiCorp from $28.00 to $32.00 and gave the company a neutral rating in a report on Wednesday, April 24th. Finally, Truist Financial reiterated a hold rating and set a $35.00 price target (up from $27.00) on shares of HashiCorp in a report on Thursday, April 25th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $31.17.

HashiCorp Stock Down 0.1 %

Shares of HCP stock opened at $33.62 on Tuesday. The company’s fifty day simple moving average is $33.24 and its two-hundred day simple moving average is $27.48. HashiCorp has a 52 week low of $18.91 and a 52 week high of $34.05. The stock has a market cap of $6.76 billion, a P/E ratio of -35.02 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. The firm had revenue of $160.58 million for the quarter, compared to the consensus estimate of $153.39 million. On average, analysts anticipate that HashiCorp will post -0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $24.31, for a total value of $872,826.24. Following the completion of the sale, the chief technology officer now owns 1,625,260 shares of the company’s stock, valued at approximately $39,510,070.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $33.74, for a total value of $469,525.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $24.31, for a total transaction of $872,826.24. Following the completion of the sale, the chief technology officer now directly owns 1,625,260 shares of the company’s stock, valued at approximately $39,510,070.60. The disclosure for this sale can be found here. Insiders have sold 359,266 shares of company stock worth $11,517,392 in the last three months. Corporate insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of HCP. Advisors Asset Management Inc. lifted its position in HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after acquiring an additional 961 shares during the last quarter. Covestor Ltd increased its stake in HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares in the last quarter. Industry Ventures L.L.C. acquired a new position in HashiCorp during the 4th quarter valued at approximately $157,000. SVB Wealth LLC acquired a new position in HashiCorp during the 4th quarter valued at approximately $273,000. Finally, Aristides Capital LLC acquired a new position in HashiCorp during the 4th quarter valued at approximately $286,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

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.