StockNews.com Begins Coverage on HashiCorp (NASDAQ:HCP)

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

HCP has been the subject of a number of other reports. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Citigroup started coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. Finally, Piper Sandler reiterated a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HashiCorp currently has an average rating of “Hold” and an average price target of $32.08.

HashiCorp Stock Up 0.0 %

Shares of NASDAQ:HCP opened at $33.84 on Tuesday. The company has a market cap of $6.87 billion, a PE ratio of -35.25 and a beta of 1.25. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The firm has a 50-day simple moving average of $33.75 and a 200 day simple moving average of $31.85.

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

Insider Transactions at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $33.64, for a total transaction of $1,207,810.56. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,132,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $33.64, for a total value of $1,207,810.56. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,132,800. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the sale, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at $14,196,929.04. The disclosure for this sale can be found here. In the last three months, insiders sold 404,041 shares of company stock valued at $13,636,943. Company insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of HashiCorp by 2,195.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 968,500 shares of the company’s stock worth $32,629,000 after acquiring an additional 926,300 shares in the last quarter. University of Texas Texas AM Investment Management Co. lifted its holdings in shares of HashiCorp by 298.0% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 397,124 shares of the company’s stock valued at $13,379,000 after purchasing an additional 297,341 shares during the last quarter. Water Island Capital LLC acquired a new position in shares of HashiCorp in the second quarter worth about $37,762,000. Algert Global LLC boosted its stake in HashiCorp by 13.6% in the 2nd quarter. Algert Global LLC now owns 75,676 shares of the company’s stock worth $2,550,000 after purchasing an additional 9,036 shares during the period. Finally, Murchinson Ltd. acquired a new stake in shares of HashiCorp in the second quarter worth $3,369,000. Institutional investors own 87.83% 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.