HashiCorp (NASDAQ:HCP) Receives New Coverage from Analysts at StockNews.com

Investment analysts at StockNews.com began coverage on shares of HashiCorp (NASDAQ:HCP) in a note issued to investors on Friday. The firm set a “hold” rating on the stock.

HCP has been the subject of several other research reports. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price for the company. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Up 0.1 %

Shares of NASDAQ HCP opened at $33.79 on Friday. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The business has a 50 day moving average price of $33.85 and a two-hundred day moving average price of $32.58. The firm has a market cap of $6.79 billion, a PE ratio of -35.20 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last issued its earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The company had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.34) EPS. On average, analysts anticipate that HashiCorp will post -0.48 earnings per share for the current year.

Insider Transactions at HashiCorp

In related news, CEO David Mcjannet sold 48,055 shares of HashiCorp stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the transaction, the chief executive officer now directly owns 419,531 shares in the company, valued at $14,196,929.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the transaction, the chief executive officer now owns 419,531 shares in the company, valued at $14,196,929.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total value of $1,214,991.36. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,436,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 390,125 shares of company stock valued at $13,178,494. Corporate insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

A number of institutional investors and hedge funds have recently made changes to their positions in HCP. Renaissance Capital LLC grew its stake in shares of HashiCorp by 76.0% in the 3rd quarter. Renaissance Capital LLC now owns 152,143 shares of the company’s stock valued at $5,152,000 after purchasing an additional 65,717 shares during the period. Kapitalo Investimentos Ltda grew its position in HashiCorp by 123.1% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 373,882 shares of the company’s stock worth $12,660,000 after acquiring an additional 206,307 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HashiCorp during the 3rd quarter worth $51,000. Wedmont Private Capital acquired a new position in HashiCorp during the 3rd quarter worth $344,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in HashiCorp by 2,195.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 968,500 shares of the company’s stock worth $32,629,000 after buying an additional 926,300 shares in the last quarter. Institutional investors and hedge funds 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.