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

Equities research analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Monday. The firm set a “hold” rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Piper Sandler restated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Citigroup began coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Finally, JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Performance

Shares of NASDAQ HCP opened at $34.24 on Monday. The firm has a market cap of $7.00 billion, a P/E ratio of -56.13 and a beta of 1.21. HashiCorp has a 1 year low of $20.89 and a 1 year high of $34.33. The firm’s 50 day moving average price is $33.83 and its 200 day moving average price is $33.76.

Insiders Place Their Bets

In other news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total transaction of $1,214,991.36. Following the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,436,800. This trade represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Mcjannet sold 47,526 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the transaction, the chief executive officer now directly owns 465,978 shares in the company, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 227,044 shares of company stock worth $7,694,048 over the last ninety days. 22.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On HashiCorp

A number of large investors have recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC purchased a new position in HashiCorp in the third quarter valued at about $38,000. American Capital Advisory LLC acquired a new position in shares of HashiCorp in the 2nd quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HashiCorp during the 3rd quarter valued at approximately $51,000. Quest Partners LLC grew its position in shares of HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after buying an additional 731 shares during the last quarter. 86.25% of the stock is owned by institutional investors and hedge funds.

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.