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

Equities researchers at StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the stock.

HCP has been the topic of a number of other research reports. Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday. Finally, Citigroup initiated coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Trading Up 0.1 %

NASDAQ:HCP opened at $33.94 on Wednesday. The company has a market cap of $6.82 billion, a PE ratio of -35.35 and a beta of 1.25. The company has a 50 day simple moving average of $33.73 and a two-hundred day simple moving average of $31.59. HashiCorp has a 12 month low of $18.91 and a 12 month high of $34.06.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The company had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. HashiCorp’s revenue was up 15.3% compared to the same quarter last year. Research analysts forecast that HashiCorp will post -0.59 earnings per share for the current year.

Insider Activity at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 21,137 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $33.48, for a total value of $707,666.76. Following the completion of the transaction, the chief technology officer now directly owns 23,234 shares in the company, valued at approximately $777,874.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Armon Dadgar sold 21,137 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $33.48, for a total value of $707,666.76. Following the sale, the chief technology officer now directly owns 23,234 shares in the company, valued at $777,874.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Navam Welihinda sold 17,397 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $33.47, for a total value of $582,277.59. Following the transaction, the chief financial officer now owns 95,485 shares of the company’s stock, valued at approximately $3,195,882.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,794 shares of company stock valued at $9,650,892. 22.49% of the stock is owned by company insiders.

Institutional Trading of HashiCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of HCP. Xponance Inc. boosted its holdings in shares of HashiCorp by 3.1% in the second quarter. Xponance Inc. now owns 10,271 shares of the company’s stock valued at $346,000 after purchasing an additional 305 shares during the period. Comerica Bank grew its position in shares of HashiCorp by 2.1% during the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after buying an additional 374 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of HashiCorp by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after buying an additional 420 shares during the period. Advisors Asset Management Inc. raised 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 valued at $86,000 after acquiring an additional 961 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in HashiCorp by 3.5% in the second quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock worth $1,075,000 after acquiring an additional 1,065 shares during the period. Hedge funds and other institutional investors own 87.83% of the company’s stock.

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.