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

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

A number of other analysts have also recently weighed in on HCP. 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. JMP Securities restated a market perform rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, 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. 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, the stock presently has an average rating of Hold and an average target price of $32.08.

HashiCorp Trading Down 0.1 %

Shares of NASDAQ HCP opened at $33.89 on Wednesday. The stock has a market cap of $6.81 billion, a P/E ratio of -35.30 and a beta of 1.25. HashiCorp has a 12-month low of $18.91 and a 12-month high of $34.06. The business’s fifty day simple moving average is $33.73 and its 200-day simple moving average is $31.64.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.34) earnings per share. On average, equities analysts forecast that HashiCorp will post -0.59 EPS for the current fiscal year.

Insider Transactions at HashiCorp

In other news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total transaction of $470,360.80. Following the sale, the chief marketing officer now owns 4,368 shares in the company, valued at $147,638.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total transaction of $470,360.80. Following the transaction, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at $147,638.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total value of $1,214,632.32. Following the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,421,600. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 286,794 shares of company stock worth $9,650,892. Corporate insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Capital Advisory LLC purchased a new stake in shares of HashiCorp during the 2nd quarter worth approximately $40,000. Advisors Asset Management Inc. boosted its stake in shares of HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after acquiring an additional 961 shares in the last quarter. Covestor Ltd boosted its stake in shares of HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after acquiring an additional 3,480 shares in the last quarter. Quest Partners LLC boosted its stake 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 worth $119,000 after acquiring an additional 3,505 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of HashiCorp during the 2nd quarter worth approximately $208,000. Hedge funds and other 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.