HashiCorp (NASDAQ:HCP) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Thursday. The firm set a “hold” rating on the stock.

A number of other research firms also recently weighed in on HCP. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Thursday, June 6th. Citigroup began coverage on HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. Finally, Piper Sandler reissued a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, HashiCorp currently has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Price Performance

Shares of HashiCorp stock opened at $33.84 on Thursday. The business has a fifty day simple moving average of $33.69 and a two-hundred day simple moving average of $31.37. HashiCorp has a 1 year low of $18.91 and a 1 year high of $34.05. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of -35.25 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. During the same quarter last year, the firm posted ($0.34) EPS. The company’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities analysts anticipate that HashiCorp will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Sigal Zarmi sold 975 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.60, for a total value of $32,760.00. Following the sale, the director now directly owns 37,546 shares in the company, valued at approximately $1,261,545.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Ledger Susan St. sold 3,264 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $33.45, for a total value of $109,180.80. Following the completion of the transaction, the insider now owns 146,242 shares of the company’s stock, valued at approximately $4,891,794.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sigal Zarmi sold 975 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.60, for a total transaction of $32,760.00. Following the completion of the transaction, the director now directly owns 37,546 shares of the company’s stock, valued at approximately $1,261,545.60. The disclosure for this sale can be found here. Insiders sold a total of 406,736 shares of company stock worth $13,640,495 in the last ninety days. 22.49% of the stock is owned by insiders.

Hedge Funds Weigh In On HashiCorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its stake in HashiCorp by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after purchasing an additional 63,879 shares during the last quarter. Swiss National Bank raised its stake in shares of HashiCorp by 11.8% during the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after acquiring an additional 23,400 shares during the last quarter. Contour Asset Management LLC bought a new position in shares of HashiCorp during the fourth quarter valued at $21,217,000. GGV Capital LLC raised its stake in shares of HashiCorp by 4.6% during the fourth quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock valued at $15,579,000 after acquiring an additional 29,064 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of HashiCorp during the fourth quarter valued at $3,158,000. Institutional investors 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.