HashiCorp (NASDAQ:HCP) Earns Market Perform Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of HashiCorp (NASDAQ:HCP) in a research report report published on Monday morning, Benzinga reports.

Several other equities analysts have also issued reports on HCP. Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a neutral rating and a $35.00 target price for the company. Piper Sandler restated a neutral rating and set a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Finally, StockNews.com started coverage on shares of HashiCorp in a research report on Thursday, September 12th. They set a hold rating on the stock. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, HashiCorp has a consensus rating of Hold and a consensus price target of $32.08.

HashiCorp Price Performance

HCP opened at $33.92 on Monday. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The company has a market cap of $6.82 billion, a price-to-earnings ratio of -35.33 and a beta of 1.25. The firm has a 50 day simple moving average of $33.72 and a 200 day simple moving average of $31.57.

HashiCorp (NASDAQ:HCP) last issued its earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter in the previous year, the company posted ($0.34) EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, analysts expect that HashiCorp will post -0.59 EPS for the current year.

Insider Transactions at HashiCorp

In related news, insider Ledger Susan St. sold 3,264 shares of HashiCorp stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $33.45, for a total value of $109,180.80. Following the sale, the insider now owns 146,242 shares of the company’s stock, valued at approximately $4,891,794.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00. Following the sale, the chief financial officer now owns 91,485 shares in the company, valued at $3,064,747.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ledger Susan St. sold 3,264 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $33.45, for a total value of $109,180.80. Following the transaction, the insider now directly owns 146,242 shares of the company’s stock, valued at $4,891,794.90. The disclosure for this sale can be found here. Insiders sold 286,794 shares of company stock valued at $9,650,892 over the last three months. Company insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of HashiCorp by 11.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock worth $14,821,000 after acquiring an additional 63,879 shares during the last quarter. Swiss National Bank increased its holdings in shares of HashiCorp by 11.8% in the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after purchasing an additional 23,400 shares during the last quarter. Contour Asset Management LLC bought a new position in shares of HashiCorp in the fourth quarter valued at about $21,217,000. GGV Capital LLC lifted its stake in shares of HashiCorp by 4.6% during the 4th quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock worth $15,579,000 after buying an additional 29,064 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of HashiCorp during the 4th quarter worth about $3,158,000. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.