HashiCorp (NASDAQ:HCP) Now Covered by StockNews.com

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

Several other research firms have also recently weighed in on HCP. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup began coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Finally, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Up 0.2 %

Shares of HashiCorp stock opened at $33.92 on Friday. The company has a market cap of $6.88 billion, a PE ratio of -45.23 and a beta of 1.24. The business has a 50 day moving average of $33.87 and a 200 day moving average of $33.66. HashiCorp has a 52 week low of $19.26 and a 52 week high of $34.21.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The business had revenue of $165.14 million during 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 company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.34) EPS. On average, research analysts anticipate that HashiCorp will post -0.48 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total transaction of $1,214,632.32. Following the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,421,600. This trade represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $147,638.40. This trade represents a 76.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 330,305 shares of company stock valued at $11,174,756. Insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Large investors have recently made changes to their positions in the stock. Longfellow Investment Management Co. LLC purchased a new stake in HashiCorp in the third quarter worth approximately $38,000. American Capital Advisory LLC bought a new position in shares of HashiCorp during the 2nd quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HashiCorp in the 3rd quarter worth $51,000. Advisors Asset Management Inc. grew its holdings in shares of HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after acquiring an additional 961 shares during the period. Finally, Quest Partners LLC increased its position in HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after acquiring an additional 3,505 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors.

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.