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

Stock analysts at StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a report released on Monday. The firm set a “hold” rating on the stock.

HCP has been the topic of a number of other research reports. Piper Sandler restated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Citigroup began coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price on the stock. Finally, JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. 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 has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Up 0.1 %

NASDAQ:HCP opened at $34.27 on Monday. The firm has a market capitalization of $7.01 billion, a P/E ratio of -56.18 and a beta of 1.21. HashiCorp has a twelve month low of $20.89 and a twelve month high of $34.33. The company has a fifty day moving average of $33.82 and a 200-day moving average of $33.76.

Insiders Place Their Bets

In related news, CMO Marc Holmes sold 13,782 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total transaction of $465,969.42. Following the completion of the transaction, the chief marketing officer now owns 8,754 shares in the company, valued at $295,972.74. The trade was a 61.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Armon Dadgar sold 35,903 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.58, for a total transaction of $1,205,622.74. Following the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,041,600. This trade represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,300 shares of company stock worth $6,533,678 in the last three months. 22.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On HashiCorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in shares of HashiCorp by 41.9% in the 3rd quarter. Principal Financial Group Inc. now owns 11,516 shares of the company’s stock worth $390,000 after purchasing an additional 3,399 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of HashiCorp during the 3rd quarter worth approximately $2,400,000. Geode Capital Management LLC grew its position in shares of HashiCorp by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after acquiring an additional 385,118 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of HashiCorp by 39.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock valued at $1,735,000 after purchasing an additional 14,555 shares in the last quarter. Finally, K2 Principal Fund L.P. raised its stake in shares of HashiCorp by 34.0% during the 3rd quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company’s stock worth $3,994,000 after buying an additional 29,901 shares during the period. 86.25% of the stock is currently owned by institutional investors.

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.