HashiCorp, Inc. (NASDAQ:HCP) Receives Average Recommendation of “Hold” from Brokerages

HashiCorp, Inc. (NASDAQ:HCP) has earned an average recommendation of “Hold” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $32.08.

Several equities research analysts have recently weighed in on HCP shares. StockNews.com assumed coverage on HashiCorp in a research report on Sunday, December 29th. They set a “hold” rating on the stock. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th.

Insider Activity at HashiCorp

In other news, CEO David Mcjannet sold 47,526 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This represents a 9.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Armon Dadgar sold 17,800 shares of the 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 transaction, the chief technology officer now directly owns 31,348 shares in the company, valued at approximately $1,073,042.04. This represents a 36.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,940 shares of company stock valued at $7,088,351 over the last 90 days. 22.49% of the stock is owned by insiders.

Institutional Trading of HashiCorp

Several hedge funds have recently added to or reduced their stakes in HCP. Longfellow Investment Management Co. LLC bought a new stake in shares of HashiCorp in the 3rd quarter valued at about $38,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in HashiCorp in the 3rd quarter worth approximately $51,000. Quest Partners LLC increased its stake in HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after purchasing an additional 3,505 shares during the period. KBC Group NV lifted its position in HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after purchasing an additional 731 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV purchased a new stake in shares of HashiCorp during the third quarter valued at approximately $205,000. 86.25% of the stock is owned by institutional investors.

HashiCorp Stock Performance

NASDAQ:HCP opened at $34.33 on Friday. The business’s fifty day moving average is $33.95 and its 200 day moving average is $33.82. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of -56.28 and a beta of 1.18. HashiCorp has a 52-week low of $20.89 and a 52-week high of $34.46.

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.