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

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

Other analysts have also issued research reports about the company. JMP Securities restated a market perform rating on shares of HashiCorp in a report on Thursday, June 6th. Citigroup assumed coverage on HashiCorp in a report on Tuesday. They set a neutral rating and a $35.00 target price for the company. Finally, Piper Sandler restated a neutral rating and set a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $32.08.

HashiCorp Stock Down 0.2 %

Shares of NASDAQ:HCP opened at $33.65 on Friday. HashiCorp has a 52-week low of $18.91 and a 52-week high of $34.05. The stock has a market cap of $6.77 billion, a P/E ratio of -35.05 and a beta of 1.25. The business’s 50 day moving average is $33.68 and its 200 day moving average is $30.99.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. HashiCorp had a negative return on equity of 10.60% and a negative net margin of 23.69%. The company had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. HashiCorp’s revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts anticipate that HashiCorp will post -0.82 EPS for the current fiscal year.

Insider Activity at HashiCorp

In related news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Armon Dadgar sold 18,349 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total value of $610,287.74. Following the completion of the transaction, the chief technology officer now directly owns 44,371 shares in the company, valued at $1,475,779.46. The disclosure for this sale can be found here. Insiders have sold a total of 406,736 shares of company stock valued at $13,639,660 in the last ninety days. Company insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCP. American Capital Advisory LLC acquired a new stake in HashiCorp during the 2nd quarter worth about $40,000. Advisors Asset Management Inc. grew its position in shares of HashiCorp by 43.0% during the 1st 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 during the period. Covestor Ltd grew its position in shares of HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after acquiring an additional 3,480 shares during the period. Quest Partners LLC grew its position in shares of HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after acquiring an additional 3,505 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of HashiCorp during the 2nd quarter valued at about $208,000. 87.83% of the stock is owned by institutional investors and hedge funds.

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.