HashiCorp, Inc. (NASDAQ:HCP) Receives $34.40 Average Target Price from Analysts

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been given an average recommendation of “Hold” by the nine research firms that are covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $34.40.

A number of analysts have commented on the company. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th.

HashiCorp Stock Performance

Shares of HCP stock opened at $34.78 on Wednesday. The stock has a 50 day moving average of $34.48 and a two-hundred day moving average of $34.11. HashiCorp has a 12 month low of $23.00 and a 12 month high of $34.85. The company has a market capitalization of $7.11 billion, a P/E ratio of -57.02 and a beta of 1.18.

Insider Buying and Selling

In related news, CTO Armon Dadgar sold 17,800 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $34.23, for a total transaction of $609,294.00. Following the completion of the sale, the chief technology officer now directly owns 31,348 shares of the company’s stock, valued at $1,073,042.04. This trade represents a 36.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On HashiCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in HashiCorp by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 16,350,402 shares of the company’s stock valued at $559,347,000 after purchasing an additional 611,447 shares in the last quarter. Norges Bank acquired a new stake in HashiCorp during the 4th quarter valued at $161,190,000. Westchester Capital Management LLC increased its holdings in HashiCorp by 0.5% during the 4th quarter. Westchester Capital Management LLC now owns 3,217,643 shares of the company’s stock valued at $110,076,000 after purchasing an additional 17,321 shares in the last quarter. Geode Capital Management LLC increased its holdings in HashiCorp by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,585,092 shares of the company’s stock valued at $88,465,000 after purchasing an additional 63,090 shares in the last quarter. Finally, Alpine Associates Management Inc. increased its holdings in HashiCorp by 11.8% during the 4th quarter. Alpine Associates Management Inc. now owns 2,394,854 shares of the company’s stock valued at $81,928,000 after purchasing an additional 252,700 shares in the last quarter. 86.25% of the stock is 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.