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

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research note published on Friday morning. The firm issued a hold rating on the stock.

A number of other equities research analysts also recently commented on the company. Citigroup assumed coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, Piper Sandler reissued a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, HashiCorp presently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Performance

Shares of NASDAQ HCP opened at $33.74 on Friday. HashiCorp has a 1 year low of $18.91 and a 1 year high of $34.06. The firm has a market cap of $6.78 billion, a P/E ratio of -35.15 and a beta of 1.25. The stock has a fifty day moving average price of $33.85 and a two-hundred day moving average price of $32.64.

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

Insider Buying and Selling at HashiCorp

In related news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00. Following the completion of the sale, the chief financial officer now directly owns 91,485 shares in the company, valued at approximately $3,064,747.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $33.66, for a total transaction of $468,412.56. Following the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at $147,026.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total transaction of $167,500.00. Following the completion of the sale, the chief financial officer now directly owns 91,485 shares of the company’s stock, valued at approximately $3,064,747.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 390,125 shares of company stock valued at $13,178,494 in the last quarter. Company insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Institutional investors have recently bought and sold shares of the stock. Whale Rock Capital Management LLC boosted its holdings in shares of HashiCorp by 293.2% during the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after buying an additional 3,404,557 shares during the period. Pentwater Capital Management LP bought a new stake in HashiCorp during the second quarter valued at about $91,654,000. Magnetar Financial LLC acquired a new stake in shares of HashiCorp in the second quarter valued at about $71,490,000. Champlain Investment Partners LLC acquired a new position in shares of HashiCorp during the 1st quarter worth about $48,995,000. Finally, Vanguard Group Inc. boosted its stake in HashiCorp by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after purchasing an additional 1,501,953 shares during the period. 87.83% 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.