JMP Securities Reiterates “Market Perform” Rating for HashiCorp (NASDAQ:HCP)

HashiCorp (NASDAQ:HCP)‘s stock had its “market perform” rating reissued by stock analysts at JMP Securities in a report released on Monday, Benzinga reports.

Other equities research analysts have also issued reports about the stock. Citigroup started coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective on the stock. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Finally, StockNews.com assumed coverage on shares of HashiCorp in a research report on Thursday. They set a “hold” rating for the company. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, HashiCorp has a consensus rating of “Hold” and an average price target of $32.08.

HashiCorp Trading Up 0.3 %

Shares of HCP traded up $0.09 during midday trading on Monday, hitting $33.93. 245,656 shares of the company’s stock traded hands, compared to its average volume of 3,328,276. The firm’s fifty day moving average is $33.69 and its 200-day moving average is $31.44. HashiCorp has a 1 year low of $18.91 and a 1 year high of $34.05. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of -35.36 and a beta of 1.25.

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

Insiders Place Their Bets

In related news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $33.26, for a total value of $1,598,309.30. Following the sale, the chief executive officer now directly owns 373,330 shares of the company’s stock, valued at approximately $12,416,955.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $33.26, for a total transaction of $1,598,309.30. Following the transaction, the chief executive officer now owns 373,330 shares of the company’s stock, valued at approximately $12,416,955.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total transaction of $169,350.00. Following the transaction, the chief financial officer now directly owns 88,322 shares in the company, valued at approximately $2,991,466.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 406,736 shares of company stock worth $13,640,495. 22.49% of the stock is owned by insiders.

Institutional Investors Weigh In On HashiCorp

A number of large investors have recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC raised its position 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 valued at $123,046,000 after acquiring an additional 3,404,557 shares in the last quarter. Pentwater Capital Management LP acquired a new position in HashiCorp in the second quarter valued at approximately $91,654,000. Magnetar Financial LLC bought a new position in shares of HashiCorp during the second quarter valued at approximately $71,490,000. Champlain Investment Partners LLC acquired a new stake in shares of HashiCorp during the 1st quarter worth approximately $48,995,000. Finally, Vanguard Group Inc. lifted its holdings in shares of HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after purchasing an additional 1,501,953 shares during the last quarter. 87.83% of the stock is 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.