HashiCorp (NASDAQ:HCP) Raised to “Buy” at StockNews.com

HashiCorp (NASDAQ:HCP) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Separately, JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, HashiCorp presently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Down 0.1 %

HCP traded down $0.03 during trading on Monday, reaching $34.28. The stock had a trading volume of 1,603,096 shares, compared to its average volume of 2,853,885. The stock has a 50 day moving average of $33.97 and a two-hundred day moving average of $33.83. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of -56.20 and a beta of 1.18. HashiCorp has a 1-year low of $20.89 and a 1-year high of $34.46.

Insider Transactions at HashiCorp

In other news, CEO David Mcjannet sold 47,526 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the sale, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This represents a 9.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $33.82, for a total value of $1,214,273.28. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,406,400. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,940 shares of company stock valued at $7,088,351 in the last ninety days. 22.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HashiCorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Longfellow Investment Management Co. LLC acquired a new position in shares of HashiCorp in the 3rd quarter valued at approximately $38,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HashiCorp during the third quarter valued at approximately $51,000. Quest Partners LLC raised its position in HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after purchasing an additional 3,505 shares in the last quarter. KBC Group NV lifted its stake in HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after purchasing an additional 731 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV acquired a new stake in shares of HashiCorp in the 3rd quarter valued at $205,000. 86.25% of the stock is currently owned by institutional investors and hedge funds.

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.