HashiCorp (NASDAQ:HCP) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of HashiCorp (NASDAQ:HCP) in a research report issued on Tuesday. The firm set a “hold” rating on the stock.

Several other research firms have also recently weighed in on HCP. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday. Piper Sandler reissued a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup initiated coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. Twelve investment 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, HashiCorp presently has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Trading Up 0.2 %

NASDAQ HCP opened at $33.84 on Tuesday. The stock has a market cap of $6.92 billion, a P/E ratio of -55.48 and a beta of 1.21. The stock’s fifty day moving average price is $33.81 and its 200-day moving average price is $33.74. HashiCorp has a 12 month low of $20.89 and a 12 month high of $34.21.

Insider Activity

In other HashiCorp news, CTO Armon Dadgar sold 22,779 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $770,841.36. Following the sale, the chief technology officer now owns 44,934 shares in the company, valued at approximately $1,520,566.56. This represents a 33.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 sale, the insider now directly owns 167,747 shares in the company, valued at $5,676,558.48. This trade represents a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 352,291 shares of company stock worth $11,912,497 over the last 90 days. 22.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HashiCorp

Institutional investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management purchased a new position in HashiCorp in the 3rd quarter worth approximately $2,400,000. Geode Capital Management LLC increased its position in HashiCorp by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after purchasing an additional 385,118 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in HashiCorp by 39.7% during the third quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock worth $1,735,000 after purchasing an additional 14,555 shares during the period. K2 Principal Fund L.P. boosted its holdings in HashiCorp by 34.0% in the 3rd quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company’s stock valued at $3,994,000 after purchasing an additional 29,901 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of HashiCorp by 14.5% during the 3rd quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after buying an additional 282,965 shares during the last quarter. Institutional investors and hedge funds own 86.25% 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.