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

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

HCP has been the topic of several other research reports. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. 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. Finally, Citigroup initiated coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, HashiCorp has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Price Performance

HCP stock opened at $33.68 on Thursday. The stock has a market capitalization of $6.83 billion, a P/E ratio of -44.91 and a beta of 1.25. HashiCorp has a 1-year low of $18.91 and a 1-year high of $34.06. The business has a fifty day moving average price of $33.85 and a 200-day moving average price of $32.96.

HashiCorp (NASDAQ:HCP) last issued its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The business 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%. HashiCorp’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.34) EPS. As a group, analysts anticipate that HashiCorp will post -0.48 earnings per share for the current year.

Insider Activity at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 419,531 shares in the company, valued at approximately $14,196,929.04. This trade 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 the SEC website. In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the completion of the sale, the chief executive officer now owns 419,531 shares in the company, valued at approximately $14,196,929.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 88,322 shares in the company, valued at $2,991,466.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 385,125 shares of company stock worth $13,022,483. 22.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On HashiCorp

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in HashiCorp by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock valued at $253,484,000 after acquiring an additional 999,671 shares in the last quarter. Diversified Trust Co bought a new stake in shares of HashiCorp in the first quarter worth about $416,000. SG Americas Securities LLC increased its holdings in shares of HashiCorp by 190.2% in the first quarter. SG Americas Securities LLC now owns 71,228 shares of the company’s stock worth $1,920,000 after purchasing an additional 46,684 shares during the last quarter. Swiss National Bank lifted its position in shares of HashiCorp by 11.8% in the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $5,972,000 after buying an additional 23,400 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in HashiCorp during the 1st quarter valued at approximately $311,000. 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.