JMP Securities Reiterates Market Perform Rating for HashiCorp (NASDAQ:HCP)

HashiCorp (NASDAQ:HCP)‘s stock had its “market perform” rating reissued by research analysts at JMP Securities in a research note issued on Monday,Benzinga reports.

Other equities research analysts have also recently issued reports about the company. Citigroup initiated coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. StockNews.com assumed coverage on shares of HashiCorp in a research report on Wednesday, December 11th. They set a “hold” rating on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.08.

HashiCorp Stock Up 0.2 %

Shares of HCP opened at $33.90 on Monday. The stock has a market cap of $6.93 billion, a P/E ratio of -55.48 and a beta of 1.21. The business’s 50 day moving average price is $33.81 and its 200-day moving average price is $33.74. HashiCorp has a 52 week low of $20.89 and a 52 week high of $34.21.

Insider Buying and Selling

In other HashiCorp news, CFO Navam Welihinda sold 18,167 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $614,771.28. Following the transaction, the chief financial officer now directly owns 105,883 shares in the company, valued at approximately $3,583,080.72. This trade represents a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Marc Holmes sold 11,854 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $401,139.36. Following the sale, the chief marketing officer now directly owns 22,536 shares of the company’s stock, valued at approximately $762,618.24. The trade was a 34.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 352,291 shares of company stock worth $11,912,497. 22.49% of the stock is owned by insiders.

Hedge Funds Weigh In On HashiCorp

Several large investors have recently added to or reduced their stakes in HCP. Longfellow Investment Management Co. LLC purchased a new stake in shares of HashiCorp during the third quarter worth about $38,000. American Capital Advisory LLC purchased a new stake in HashiCorp during the 2nd quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HashiCorp during the third quarter valued at approximately $51,000. Quest Partners LLC lifted its holdings in shares of HashiCorp by 9,736.1% in the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after buying an additional 731 shares in the last quarter. Hedge funds and other institutional investors own 86.25% 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.