HashiCorp (NASDAQ:HCP) Research Coverage Started at StockNews.com

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

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

HashiCorp Trading Down 0.3 %

Shares of HCP opened at $33.84 on Friday. The firm has a market capitalization of $6.80 billion, a P/E ratio of -35.25 and a beta of 1.25. The stock’s fifty day simple moving average is $33.83 and its 200 day simple moving average is $32.52. HashiCorp has a twelve month low of $18.91 and a twelve month high of $34.06.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $165.14 million during the quarter, compared to analyst estimates 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 in the previous year, the company earned ($0.34) earnings per share. Sell-side analysts predict that HashiCorp will post -0.48 earnings per share for the current year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00. Following the transaction, the chief financial officer now owns 91,485 shares of the company’s stock, valued at approximately $3,064,747.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Mcjannet sold 48,055 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the transaction, the chief executive officer now owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 390,125 shares of company stock valued at $13,178,494 in the last quarter. Corporate insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Xponance Inc. boosted its holdings in HashiCorp by 3.1% in the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock valued at $346,000 after purchasing an additional 305 shares during the period. Comerica Bank grew its holdings in HashiCorp by 2.1% in the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after acquiring an additional 374 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after acquiring an additional 961 shares during the last quarter. Arizona State Retirement System grew its holdings in HashiCorp by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock worth $1,075,000 after acquiring an additional 1,065 shares during the last quarter. Finally, American Capital Advisory LLC bought a new stake in shares of HashiCorp during the 2nd quarter valued at about $40,000. 87.83% of the stock is owned by 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.