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

Equities researchers at StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the stock.

A number of other research analysts also recently commented on the stock. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Piper Sandler restated a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. Finally, Citigroup started coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.08.

HashiCorp Stock Down 0.1 %

HCP opened at $33.94 on Friday. The stock has a market cap of $6.82 billion, a P/E ratio of -35.35 and a beta of 1.25. HashiCorp has a 12 month low of $18.91 and a 12 month high of $34.06. The company has a fifty day simple moving average of $33.82 and a 200 day simple moving average of $32.43.

HashiCorp (NASDAQ:HCP) last announced its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.34) EPS. On average, equities research analysts expect that HashiCorp will post -0.48 earnings per share 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 Wednesday, October 2nd. The stock was sold at an average price of $33.84, for a total transaction of $1,214,991.36. Following the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,436,800. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total transaction of $1,214,991.36. Following the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,436,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the transaction, the chief financial officer now owns 91,485 shares in the company, valued at $3,064,747.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 390,125 shares of company stock worth $13,178,494. Corporate insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HCP. American Capital Advisory LLC purchased a new stake in shares of HashiCorp in the second quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in HashiCorp during the 3rd quarter valued at about $51,000. Advisors Asset Management Inc. grew its stake in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares during the last quarter. Covestor Ltd raised its position in shares of HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after purchasing an additional 3,480 shares during the last quarter. Finally, Quest Partners LLC increased its position in shares of HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after acquiring an additional 3,505 shares in the last quarter. Hedge funds and other 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.