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

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a report released on Saturday morning. The brokerage issued a hold rating on the stock.

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

HashiCorp Stock Up 0.2 %

NASDAQ HCP opened at $33.92 on Friday. The company’s 50 day moving average is $33.87 and its 200-day moving average is $33.67. The firm has a market cap of $6.88 billion, a P/E ratio of -45.23 and a beta of 1.24. HashiCorp has a 12-month low of $19.26 and a 12-month high of $34.21.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.34) earnings per share. Equities analysts expect that HashiCorp will post -0.48 EPS for the current year.

Insider Activity at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $33.83, for a total transaction of $1,214,632.32. Following the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,421,600. This trade represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ledger Susan St. sold 22,232 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $752,330.88. Following the transaction, the insider now owns 167,747 shares in the company, valued at $5,676,558.48. The trade was a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 330,305 shares of company stock valued at $11,174,756 over the last three months. 22.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Xponance Inc. grew its holdings in shares of HashiCorp by 3.1% in the second quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after purchasing an additional 305 shares during the last quarter. Comerica Bank grew its holdings in shares of HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after purchasing an additional 374 shares during the last quarter. KBC Group NV grew its holdings 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 purchasing an additional 731 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of HashiCorp by 4.8% in the third quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock worth $646,000 after purchasing an additional 873 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after purchasing an additional 961 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors.

HashiCorp Company Profile

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.