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

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Monday. The firm issued a hold rating on the stock.

Several other equities research analysts also recently issued reports on the stock. JMP Securities restated a market perform rating on shares of HashiCorp in a research note on Thursday, June 6th. Scotiabank restated a sector perform rating and set a $35.00 price objective (up previously from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. Needham & Company LLC reiterated a hold rating on shares of HashiCorp in a research note on Thursday, April 25th. William Blair lowered HashiCorp from an outperform rating to a market perform rating in a research note on Wednesday, April 24th. Finally, Truist Financial reiterated a hold rating and issued a $35.00 price objective (up previously from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $31.17.

HashiCorp Price Performance

HashiCorp stock opened at $33.94 on Monday. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.05. The firm has a fifty day moving average price of $33.61 and a two-hundred day moving average price of $30.20. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of -35.35 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.02. The business had revenue of $160.58 million during the quarter, compared to analysts’ expectations of $153.39 million. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. As a group, sell-side analysts expect that HashiCorp will post -0.8 earnings per share for the current year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $33.65, for a total transaction of $1,208,169.60. Following the completion of the transaction, the chief technology officer now directly owns 1,517,548 shares of the company’s stock, valued at $51,065,490.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $33.65, for a total transaction of $1,208,169.60. Following the completion of the sale, the chief technology officer now owns 1,517,548 shares of the company’s stock, valued at $51,065,490.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ledger Susan St. sold 22,366 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $33.26, for a total value of $743,893.16. Following the completion of the transaction, the insider now directly owns 143,072 shares in the company, valued at $4,758,574.72. The disclosure for this sale can be found here. Insiders have sold 365,832 shares of company stock worth $12,248,497 over the last three months. Company insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HCP. Water Island Capital LLC acquired a new position in HashiCorp during the 2nd quarter worth $37,762,000. Algert Global LLC lifted its stake in shares of HashiCorp by 13.6% during the second quarter. Algert Global LLC now owns 75,676 shares of the company’s stock valued at $2,550,000 after acquiring an additional 9,036 shares during the period. Murchinson Ltd. bought a new position in HashiCorp in the second quarter valued at about $3,369,000. Susquehanna Fundamental Investments LLC acquired a new stake in HashiCorp in the second quarter worth about $5,384,000. Finally, The Manufacturers Life Insurance Company raised its holdings in HashiCorp by 27.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,381 shares of the company’s stock worth $1,024,000 after purchasing an additional 6,506 shares during the last quarter. Institutional investors and hedge funds own 87.83% of the company’s stock.

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.