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

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research report sent to investors on Saturday. The brokerage issued a hold rating on the stock.

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

HashiCorp Stock Down 0.4 %

Shares of HCP stock opened at $33.77 on Friday. The company has a market capitalization of $6.85 billion, a P/E ratio of -45.03 and a beta of 1.24. HashiCorp has a 12-month low of $19.26 and a 12-month high of $34.21. The firm has a 50-day moving average price of $33.87 and a 200 day moving average price of $33.70.

HashiCorp (NASDAQ:HCP) last announced its earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The business had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. HashiCorp’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) EPS. As a group, research analysts expect that HashiCorp will post -0.48 earnings per share for the current year.

Insider Buying and Selling at HashiCorp

In related news, CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $33.90, for a total transaction of $1,217,111.70. Following the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,528,000. This trade represents a 2.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the sale, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at $14,196,929.04. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 366,208 shares of company stock valued at $12,391,868. 22.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds and other institutional investors have recently made changes to their positions in HCP. Vanguard Group Inc. raised its position in shares of HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after purchasing an additional 1,501,953 shares during the period. Bessemer Group Inc. acquired a new stake in HashiCorp during the 1st quarter worth approximately $649,000. Advisors Asset Management Inc. lifted its stake in HashiCorp by 43.0% in the first 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 in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of HashiCorp in the first quarter valued at approximately $378,000. Finally, Bayesian Capital Management LP bought a new stake in shares of HashiCorp during the first quarter worth $2,178,000. 87.83% of the stock is 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.