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

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

A number of other research analysts have also issued reports on the stock. Citigroup began coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a neutral rating and a $35.00 price target on the stock. JMP Securities reissued a market perform rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, Piper Sandler reissued a neutral rating and issued a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $32.08.

HashiCorp Stock Performance

Shares of HCP opened at $33.90 on Tuesday. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The firm has a 50-day simple moving average of $33.76 and a 200-day simple moving average of $31.87. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of -35.28 and a beta of 1.25.

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

Insiders Place Their Bets

In related news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $33.46, for a total value of $465,629.36. Following the sale, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at approximately $146,153.28. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $33.46, for a total transaction of $465,629.36. Following the completion of the sale, the chief marketing officer now owns 4,368 shares in the company, valued at approximately $146,153.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $33.80, for a total transaction of $1,213,555.20. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,376,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 404,041 shares of company stock worth $13,636,943. Insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HCP. American Capital Advisory LLC acquired a new position in shares of HashiCorp during the 2nd quarter valued at about $40,000. Advisors Asset Management Inc. grew its holdings in HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after purchasing an additional 961 shares during the period. Covestor Ltd increased its position in HashiCorp by 12,888.9% during the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after purchasing an additional 3,480 shares during the last quarter. Quest Partners LLC raised its stake in HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after purchasing an additional 3,505 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of HashiCorp in the 2nd quarter valued at $208,000. 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.