HashiCorp (NASDAQ:HCP) Earns Hold Rating from Analysts at StockNews.com

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

Other equities analysts have also issued reports about the stock. Piper Sandler reaffirmed a neutral rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup initiated coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They issued a neutral rating and a $35.00 price objective for the company. Finally, JMP Securities reissued a market perform rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $32.08.

HashiCorp Stock Performance

NASDAQ:HCP opened at $33.98 on Friday. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The stock has a market capitalization of $6.83 billion, a P/E ratio of -35.40 and a beta of 1.25. The company’s 50-day simple moving average is $33.81 and its 200-day simple moving average is $32.27.

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

Insiders Place Their Bets

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction on Monday, July 22nd. The shares were 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 of the company’s stock, valued at $3,064,747.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total transaction of $1,202,784.00. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $50,920,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total value of $167,500.00. Following the transaction, the chief financial officer now owns 91,485 shares in the company, valued at approximately $3,064,747.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 390,125 shares of company stock valued at $13,178,494 in the last 90 days. 22.49% of the stock is owned by insiders.

Institutional Trading of HashiCorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss National Bank raised its holdings in HashiCorp by 11.8% in the 1st quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after buying an additional 23,400 shares during the period. Contour Asset Management LLC purchased a new stake in HashiCorp in the 4th quarter valued at about $21,217,000. GGV Capital LLC increased its stake in HashiCorp by 4.6% during the fourth quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock worth $15,579,000 after purchasing an additional 29,064 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in HashiCorp during the first quarter worth about $1,070,000. Finally, University of Texas Texas AM Investment Managment Co. purchased a new stake in HashiCorp during the fourth quarter worth about $2,359,000. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

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.