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

Analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the stock.

Separately, JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.40.

HashiCorp Stock Performance

HashiCorp stock opened at $34.78 on Tuesday. HashiCorp has a 1 year low of $23.00 and a 1 year high of $34.85. The firm’s 50 day moving average price is $34.53 and its two-hundred day moving average price is $34.15. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in HashiCorp by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 16,350,402 shares of the company’s stock valued at $559,347,000 after purchasing an additional 611,447 shares in the last quarter. Norges Bank purchased a new position in shares of HashiCorp during the 4th quarter valued at $161,190,000. Westchester Capital Management LLC increased its stake in shares of HashiCorp by 0.5% in the fourth quarter. Westchester Capital Management LLC now owns 3,217,643 shares of the company’s stock worth $110,076,000 after acquiring an additional 17,321 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of HashiCorp by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 2,585,092 shares of the company’s stock worth $88,465,000 after acquiring an additional 63,090 shares in the last quarter. Finally, Alpine Associates Management Inc. boosted its position in HashiCorp by 11.8% during the fourth quarter. Alpine Associates Management Inc. now owns 2,394,854 shares of the company’s stock valued at $81,928,000 after purchasing an additional 252,700 shares during the last quarter. Hedge funds and other institutional investors 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.