HashiCorp (NASDAQ:HCP) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research report report published on Friday morning. The brokerage issued a hold rating on the stock.

A number of other brokerages also recently commented on HCP. Piper Sandler reiterated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup assumed coverage on HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. Finally, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. 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 $33.74 on Friday. The business has a fifty day moving average price of $33.85 and a 200 day moving average price of $32.74. The company has a market cap of $6.78 billion, a P/E ratio of -35.15 and a beta of 1.25. HashiCorp has a one year low of $18.91 and a one year high of $34.06.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter in the prior year, the company earned ($0.34) EPS. HashiCorp’s revenue was up 15.3% compared to the same quarter last year. As a group, sell-side analysts predict that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Activity

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 transaction of $169,350.00. Following the completion of the transaction, the chief financial officer now owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction dated 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 owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $33.66, for a total value of $468,412.56. Following the completion of the transaction, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $147,026.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 349,221 shares of company stock valued at $11,808,210. Company insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

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