HashiCorp (NASDAQ:HCP) Now Covered by Analysts at StockNews.com

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

Other equities research analysts also recently issued research reports about the company. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Citigroup began coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target for the company. Finally, 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. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Performance

Shares of NASDAQ:HCP opened at $33.67 on Thursday. The stock has a 50-day simple moving average of $33.85 and a 200-day simple moving average of $32.86. The stock has a market capitalization of $6.77 billion, a P/E ratio of -35.07 and a beta of 1.25. HashiCorp has a 1 year low of $18.91 and a 1 year high of $34.06.

HashiCorp (NASDAQ:HCP) last released 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 analyst estimates of $157.22 million. During the same quarter in the prior year, the business earned ($0.34) earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. Analysts predict that HashiCorp will post -0.48 earnings per share for the current year.

Insider Buying and Selling at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $33.82, for a total value of $1,214,273.28. Following the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,406,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $33.82, for a total transaction of $1,214,273.28. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,406,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Mcjannet sold 48,055 shares of the business’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 value of $1,626,181.20. Following the transaction, the chief executive officer now owns 419,531 shares of the company’s stock, valued at $14,196,929.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 385,125 shares of company stock worth $13,022,483 over the last 90 days. Insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Institutional investors have recently modified their holdings of the company. American Capital Advisory LLC acquired a new position in HashiCorp during the 2nd quarter valued at about $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HashiCorp in the third quarter valued at $51,000. Advisors Asset Management Inc. boosted its holdings in HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares in the last quarter. Covestor Ltd increased its holdings in shares of HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after buying an additional 3,480 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after acquiring an additional 3,505 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

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.