HashiCorp (NASDAQ:HCP) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research note published on Monday. The brokerage issued a hold rating on the stock.

Several other equities research analysts have also issued reports on HCP. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. 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. Finally, Piper Sandler reiterated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, HashiCorp presently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Performance

Shares of HCP stock opened at $33.91 on Monday. HashiCorp has a fifty-two week low of $19.26 and a fifty-two week high of $34.21. The stock’s fifty day moving average price is $33.87 and its two-hundred day moving average price is $33.63. The company has a market cap of $6.88 billion, a PE ratio of -45.21 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share 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 period in the prior year, the company earned ($0.34) EPS. HashiCorp’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities analysts predict that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $33.85, for a total transaction of $1,215,350.40. Following the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,452,000. This represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the transaction, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $147,638.40. This trade represents a 76.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 371,209 shares of company stock valued at $12,559,456 in the last three months. Insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Xponance Inc. raised its holdings in shares of HashiCorp by 3.1% during the second quarter. Xponance Inc. now owns 10,271 shares of the company’s stock valued at $346,000 after purchasing an additional 305 shares during the period. Comerica Bank raised its stake in HashiCorp by 2.1% during the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after buying an additional 374 shares during the period. KBC Group NV raised its stake in HashiCorp by 25.8% during the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after buying an additional 731 shares during the period. Victory Capital Management Inc. boosted its holdings in HashiCorp by 4.8% in the third quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock worth $646,000 after acquiring an additional 873 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in HashiCorp by 43.0% in 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 period. 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.