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

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

HCP has been the topic of a number of other research reports. Piper Sandler reiterated a neutral rating and set a $35.00 price objective on shares of HashiCorp in a research note on Friday, August 30th. Citigroup started coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They issued a neutral rating and a $35.00 price target on the stock. Finally, JMP Securities reaffirmed a market perform rating on shares of HashiCorp in a research note on Monday, September 16th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, HashiCorp currently has a consensus rating of Hold and an average price target of $32.08.

HashiCorp Price Performance

HashiCorp stock opened at $33.86 on Friday. The company has a market cap of $6.81 billion, a PE ratio of -35.27 and a beta of 1.25. HashiCorp has a 12 month low of $18.91 and a 12 month high of $34.06. The company has a fifty day moving average price of $33.84 and a two-hundred day moving average price of $32.57.

HashiCorp (NASDAQ:HCP) last posted 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 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 business’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.34) earnings per share. Equities research analysts anticipate that HashiCorp will post -0.48 earnings per share for the current year.

Insider Activity at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $33.84, for a total value of $1,214,991.36. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,436,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Ledger Susan St. sold 22,232 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $752,330.88. Following the sale, the insider now directly owns 167,747 shares in the company, valued at $5,676,558.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $33.84, for a total value of $1,214,991.36. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,436,800. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 390,125 shares of company stock valued at $13,178,494 over the last quarter. 22.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On HashiCorp

Institutional investors have recently modified their holdings of the business. American Capital Advisory LLC acquired a new position in shares of HashiCorp in the 2nd quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HashiCorp during the third quarter worth about $51,000. Advisors Asset Management Inc. lifted its holdings in shares of HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after purchasing an additional 961 shares in the last quarter. Covestor Ltd grew its position in shares of HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares during the period. Finally, Quest Partners LLC increased its stake in HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after purchasing an additional 3,505 shares in the last quarter. Institutional investors and hedge funds 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.