Brokerages Set HashiCorp, Inc. (NASDAQ:HCP) Target Price at $32.08

HashiCorp, Inc. (NASDAQ:HCP) has been assigned a consensus rating of “Hold” from the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $32.08.

HCP has been the topic of a number of research reports. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com started coverage on shares of HashiCorp in a research note on Sunday, December 29th. They set a “hold” rating on the stock.

HashiCorp Stock Performance

HCP stock opened at $34.32 on Friday. The company has a market cap of $7.02 billion, a price-to-earnings ratio of -56.26 and a beta of 1.18. The business’s 50-day moving average is $33.92 and its two-hundred day moving average is $33.80. HashiCorp has a fifty-two week low of $20.89 and a fifty-two week high of $34.40.

Insider Buying and Selling

In related news, CTO Armon Dadgar sold 17,800 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the completion of the transaction, the chief technology officer now directly owns 31,348 shares of the company’s stock, valued at approximately $1,073,042.04. This trade represents a 36.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the sale, the chief executive officer now owns 465,978 shares in the company, valued at approximately $15,945,767.16. This represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 208,940 shares of company stock worth $7,088,351. 22.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HashiCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in HashiCorp by 41.9% during the third quarter. Principal Financial Group Inc. now owns 11,516 shares of the company’s stock valued at $390,000 after purchasing an additional 3,399 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of HashiCorp in the 3rd quarter valued at about $2,400,000. Geode Capital Management LLC grew its position in HashiCorp by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after acquiring an additional 385,118 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in HashiCorp by 39.7% during the third quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock worth $1,735,000 after acquiring an additional 14,555 shares during the last quarter. Finally, K2 Principal Fund L.P. lifted its stake in shares of HashiCorp by 34.0% in the 3rd quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company’s stock valued at $3,994,000 after purchasing an additional 29,901 shares during the last quarter. 86.25% of the stock is owned by institutional investors.

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.