HashiCorp’s (HCP) Market Perform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of HashiCorp (NASDAQ:HCP) in a research report released on Monday morning, Benzinga reports.

Several other equities analysts have also recently weighed in on the stock. Piper Sandler reiterated a neutral rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup assumed coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a neutral rating and a $35.00 price target on the stock. Finally, StockNews.com initiated coverage on HashiCorp in a research report on Thursday, September 12th. They set a hold rating for the company. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $32.08.

HashiCorp Stock Up 0.4 %

Shares of HashiCorp stock opened at $33.99 on Monday. HashiCorp has a 12-month low of $18.91 and a 12-month high of $34.05. The firm has a market capitalization of $6.83 billion, a PE ratio of -35.41 and a beta of 1.25. The stock’s fifty day moving average is $33.70 and its 200-day moving average is $31.50.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data 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 firm had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. During the same quarter in the previous year, the company earned ($0.34) EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. Analysts expect that HashiCorp will post -0.59 EPS for the current year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the sale, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at $147,638.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the business’s 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 sale, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at $147,638.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total value of $1,214,632.32. Following the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,421,600. The disclosure for this sale can be found here. Insiders sold 406,736 shares of company stock worth $13,640,495 over the last ninety days. 22.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HashiCorp

A number of institutional investors have recently modified their holdings of HCP. Xponance Inc. raised its holdings in HashiCorp by 3.1% in the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after acquiring an additional 305 shares during the period. Comerica Bank lifted its position in shares of HashiCorp by 2.1% during the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after purchasing an additional 374 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of HashiCorp by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock worth $1,020,000 after buying an additional 420 shares during the last quarter. Advisors Asset Management Inc. raised its stake in HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after purchasing an additional 961 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of HashiCorp by 3.5% during the second quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock valued at $1,075,000 after buying an additional 1,065 shares during the last quarter. 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.