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

Analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the stock.

Several other analysts have also commented on HCP. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Citigroup assumed coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Finally, Piper Sandler reiterated a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Trading Up 0.6 %

Shares of HCP opened at $34.07 on Tuesday. The firm’s 50-day moving average is $33.86 and its two-hundred day moving average is $33.49. HashiCorp has a twelve month low of $19.26 and a twelve month high of $34.11. The firm has a market capitalization of $6.91 billion, a P/E ratio of -45.43 and a beta of 1.24.

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

Insiders Place Their Bets

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,467,200. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,467,200. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ledger Susan St. sold 22,232 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 transaction of $752,330.88. Following the completion of the sale, the insider now directly owns 167,747 shares of the company’s stock, valued at $5,676,558.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 385,125 shares of company stock valued at $13,027,869 over the last quarter. Company insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Several large investors have recently made changes to their positions in the business. ING Groep NV increased its position in shares of HashiCorp by 851.2% in the third quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock worth $56,587,000 after acquiring an additional 1,495,500 shares in the last quarter. KBC Group NV increased its position 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 acquiring an additional 731 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of HashiCorp by 4.8% in the third quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock worth $646,000 after acquiring an additional 873 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of HashiCorp by 15.9% in the third quarter. Ashton Thomas Private Wealth LLC now owns 8,461 shares of the company’s stock worth $286,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Entropy Technologies LP grew its holdings in HashiCorp by 20.4% during the 3rd quarter. Entropy Technologies LP now owns 9,672 shares of the company’s stock valued at $327,000 after purchasing an additional 1,637 shares in the last quarter. Institutional investors and hedge funds 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.