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

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

Other research analysts also recently issued reports about the stock. Citigroup began coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective on the stock. Piper Sandler reiterated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research note on Friday, August 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Trading Down 0.6 %

HCP opened at $33.58 on Friday. The company has a fifty day simple moving average of $33.85 and a 200 day simple moving average of $33.70. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -44.77 and a beta of 1.24. HashiCorp has a twelve month low of $19.26 and a twelve month high of $34.21.

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

Insider Transactions at HashiCorp

In related news, CFO Navam Welihinda sold 18,167 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $614,771.28. Following the sale, the chief financial officer now owns 105,883 shares of the company’s stock, valued at $3,583,080.72. This trade represents a 14.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Armon Dadgar sold 35,903 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $33.90, for a total transaction of $1,217,111.70. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,528,000. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 366,208 shares of company stock worth $12,391,868. 22.49% of the stock is currently owned by insiders.

Institutional Trading of HashiCorp

Large investors have recently modified their holdings of the company. Xponance Inc. increased its stake in HashiCorp by 3.1% during the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock valued at $346,000 after buying an additional 305 shares during the period. Comerica Bank increased its stake in HashiCorp by 2.1% during the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after buying an additional 374 shares during the period. KBC Group NV increased its stake in HashiCorp by 25.8% during the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after buying an additional 731 shares during the period. Victory Capital Management Inc. increased its stake in HashiCorp by 4.8% during the 3rd quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock valued at $646,000 after buying an additional 873 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares during the period. 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.