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 Sunday. The brokerage issued a hold rating on the stock.

HCP has been the topic of a number of other research reports. Bank of America boosted their price objective on HashiCorp from $28.00 to $32.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. Scotiabank reissued a sector perform rating and issued a $35.00 price objective (up previously from $31.00) on shares of HashiCorp in a research note on Thursday, April 25th. Needham & Company LLC restated a hold rating on shares of HashiCorp in a research report on Thursday, April 25th. KeyCorp began coverage on HashiCorp in a research report on Tuesday, March 19th. They set a sector weight rating for the company. Finally, Piper Sandler boosted their target price on HashiCorp from $25.00 to $35.00 and gave the stock a neutral rating in a research report on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $31.17.

HashiCorp Price Performance

Shares of HCP stock opened at $33.46 on Friday. The stock’s fifty day simple moving average is $33.45 and its 200 day simple moving average is $28.19. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of -34.85 and a beta of 1.25. HashiCorp has a one year low of $18.91 and a one year high of $34.05.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.02. The business had revenue of $160.58 million for the quarter, compared to analyst estimates of $153.39 million. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. On average, research analysts anticipate that HashiCorp will post -0.8 earnings per share for the current year.

Insider Activity at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.26, for a total value of $1,598,309.30. Following the completion of the sale, the chief executive officer now directly owns 373,330 shares in the company, valued at $12,416,955.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.26, for a total transaction of $1,598,309.30. Following the sale, the chief executive officer now owns 373,330 shares of the company’s stock, valued at $12,416,955.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $33.74, for a total value of $469,525.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 395,170 shares of company stock worth $12,824,841. 22.49% of the stock is owned by insiders.

Institutional Investors Weigh In On HashiCorp

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after buying an additional 1,501,953 shares during the last quarter. Whale Rock Capital Management LLC raised its position in HashiCorp by 293.2% in the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock valued at $123,046,000 after buying an additional 3,404,557 shares during the last quarter. Jericho Capital Asset Management L.P. raised its position in HashiCorp by 53.3% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock valued at $89,985,000 after buying an additional 1,161,600 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. grew its stake in HashiCorp by 50.0% in the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after purchasing an additional 949,100 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in HashiCorp by 35.7% in the fourth quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock valued at $64,350,000 after purchasing an additional 716,574 shares in the last quarter. Institutional investors and hedge funds 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.