StockNews.com Initiates Coverage on HashiCorp (NASDAQ:HCP)

Research analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a report released on Thursday. The brokerage set a “hold” rating on the stock.

A number of other research analysts have also recently commented on HCP. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Piper Sandler restated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. Finally, Citigroup assumed coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.08.

HashiCorp Price Performance

Shares of HashiCorp stock opened at $33.68 on Thursday. The stock has a market cap of $6.77 billion, a P/E ratio of -35.08 and a beta of 1.25. The stock’s 50 day simple moving average is $33.85 and its 200-day simple moving average is $32.91. HashiCorp has a 1-year low of $18.91 and a 1-year high of $34.06.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 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 analysts’ expectations of $157.22 million. During the same period in the prior year, the firm posted ($0.34) earnings per share. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts expect that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Transactions at HashiCorp

In related news, CEO David Mcjannet sold 48,055 shares of the 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 owns 419,531 shares of the company’s stock, valued at $14,196,929.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $33.71, for a total transaction of $1,210,323.84. Following the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,239,200. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Mcjannet sold 48,055 shares of the firm’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 directly owns 419,531 shares in the company, valued at approximately $14,196,929.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 385,125 shares of company stock valued at $13,022,483. 22.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HashiCorp

Several hedge funds have recently made changes to their positions in the company. American Capital Advisory LLC acquired a new stake in shares of HashiCorp during the second quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HashiCorp in the third quarter valued at about $51,000. Advisors Asset Management Inc. lifted its position 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 purchasing an additional 961 shares during the period. Covestor Ltd lifted its position in HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares during the period. Finally, Quest Partners LLC lifted its position in HashiCorp by 9,736.1% in the second 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 period. Hedge funds and other 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.