HashiCorp (NASDAQ:HCP) Upgraded at StockNews.com

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCP) from a hold rating to a buy rating in a research note released on Monday morning.

Separately, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, HashiCorp has a consensus rating of “Hold” and a consensus price target of $32.08.

HashiCorp Trading Down 0.1 %

HashiCorp stock opened at $34.28 on Monday. The firm has a market cap of $7.01 billion, a P/E ratio of -56.20 and a beta of 1.18. HashiCorp has a 1-year low of $20.89 and a 1-year high of $34.46. The firm has a 50-day moving average of $33.97 and a 200-day moving average of $33.83.

Insider Activity

In other news, CEO David Mcjannet sold 47,526 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the sale, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This represents a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $33.82, for a total value of $1,214,273.28. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,406,400. This represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,940 shares of company stock worth $7,088,351. Corporate insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Longfellow Investment Management Co. LLC bought a new position in shares of HashiCorp in the third quarter worth approximately $38,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HashiCorp in the 3rd quarter valued at approximately $51,000. Quest Partners LLC boosted its stake in HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after purchasing an additional 3,505 shares during the last quarter. KBC Group NV increased its holdings in shares of HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after purchasing an additional 731 shares in the last quarter. Finally, Townsend Asset Management Corp NC ADV purchased a new position in shares of HashiCorp in the third quarter worth $205,000. 86.25% of the stock is currently owned by institutional investors.

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.