HashiCorp (NASDAQ:HCP) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a report issued on Thursday. The brokerage issued a hold rating on the stock.

Several other research analysts have also recently weighed in on HCP. Piper Sandler restated a neutral rating and issued a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. Citigroup initiated coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a neutral rating and a $35.00 target price for the company. Finally, JMP Securities reaffirmed a market perform rating on shares of HashiCorp in a report on Thursday, June 6th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, HashiCorp presently has a consensus rating of Hold and a consensus target price of $32.08.

HashiCorp Stock Performance

NASDAQ:HCP opened at $33.79 on Thursday. The firm has a market cap of $6.79 billion, a P/E ratio of -35.20 and a beta of 1.25. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.05. The firm has a 50-day simple moving average of $33.69 and a two-hundred day simple moving average of $31.31.

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

Insider Buying and Selling at HashiCorp

In other news, Director Sigal Zarmi sold 975 shares of HashiCorp stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.60, for a total transaction of $32,760.00. Following the transaction, the director now owns 37,546 shares in the company, valued at approximately $1,261,545.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sigal Zarmi sold 975 shares of HashiCorp stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.60, for a total transaction of $32,760.00. Following the transaction, the director now directly owns 37,546 shares in the company, valued at approximately $1,261,545.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 406,736 shares of company stock valued at $13,640,495. Insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in 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 buying an additional 1,501,953 shares during the period. Whale Rock Capital Management LLC boosted its stake in shares of HashiCorp by 293.2% in the first quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after acquiring an additional 3,404,557 shares during the period. Jericho Capital Asset Management L.P. grew its position in shares of HashiCorp by 53.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after purchasing an additional 1,161,600 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. raised its stake in HashiCorp by 50.0% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after purchasing an additional 949,100 shares during the period. Finally, First Trust Advisors LP lifted its holdings in HashiCorp by 35.7% in the 4th quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock worth $64,350,000 after purchasing an additional 716,574 shares in the last quarter. 87.83% of the stock is owned by hedge funds and other institutional investors.

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.