HashiCorp (NASDAQ:HCP) Receives New Coverage from Analysts at StockNews.com

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

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

HashiCorp Stock Up 0.3 %

Shares of NASDAQ:HCP opened at $33.83 on Friday. The business has a 50-day moving average price of $33.85 and a 200-day moving average price of $32.79. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of -35.24 and a beta of 1.25. HashiCorp has a 52-week low of $18.91 and a 52-week high of $34.06.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The company had revenue of $165.14 million during 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%. HashiCorp’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the business earned ($0.34) earnings per share. As a group, equities analysts anticipate that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Activity at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the transaction, the chief financial officer now owns 88,322 shares of the company’s stock, valued at $2,991,466.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the transaction, the chief financial officer now owns 88,322 shares in the company, valued at approximately $2,991,466.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $33.71, for a total value of $1,210,323.84. Following the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,239,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 349,221 shares of company stock valued at $11,808,210. Corporate insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds have recently modified their holdings of HCP. Vanguard Group Inc. increased its position in HashiCorp by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock worth $253,484,000 after purchasing an additional 999,671 shares during the last quarter. Artemis Investment Management LLP grew its stake in shares of HashiCorp by 416.0% in the 1st quarter. Artemis Investment Management LLP now owns 1,555,104 shares of the company’s stock valued at $41,891,000 after buying an additional 1,253,723 shares in the last quarter. Diversified Trust Co acquired a new position in HashiCorp in the first quarter worth approximately $416,000. Perigon Wealth Management LLC raised its position in HashiCorp by 26.9% during the first quarter. Perigon Wealth Management LLC now owns 121,456 shares of the company’s stock valued at $3,273,000 after acquiring an additional 25,770 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in HashiCorp by 190.2% during the first quarter. SG Americas Securities LLC now owns 71,228 shares of the company’s stock valued at $1,920,000 after acquiring an additional 46,684 shares in the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.