HashiCorp (NASDAQ:HCP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a report issued on Sunday. The firm issued a hold rating on the stock.

HCP has been the subject of several other reports. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Citigroup initiated coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. Finally, Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.08.

HashiCorp Stock Performance

HCP opened at $33.61 on Friday. HashiCorp has a one year low of $19.26 and a one year high of $34.21. The company has a market cap of $6.82 billion, a P/E ratio of -44.80 and a beta of 1.24. The business’s 50-day simple moving average is $33.88 and its 200-day simple moving average is $33.66.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS 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 was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.34) earnings per share. As a group, analysts predict that HashiCorp will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at HashiCorp

In other news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at $2,991,466.14. This represents a 5.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ledger Susan St. sold 22,232 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 transaction of $752,330.88. Following the sale, the insider now directly owns 167,747 shares in the company, valued at approximately $5,676,558.48. This represents a 11.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 371,209 shares of company stock valued at $12,559,456. 22.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank lifted its stake in HashiCorp by 11.8% in the 1st quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after buying an additional 23,400 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of HashiCorp during the first quarter valued at $1,070,000. Bessemer Group Inc. purchased a new stake in HashiCorp during the 1st quarter worth about $649,000. Vanguard Group Inc. raised its stake in HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after purchasing an additional 1,501,953 shares during the last quarter. Finally, New York Life Investment Management LLC purchased a new position in HashiCorp in the 2nd quarter valued at about $11,407,000. 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.