StockNews.com Initiates Coverage on HashiCorp (NASDAQ:HCP)

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Tuesday. The firm issued a hold rating on the stock.

Several other research analysts also recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Citigroup started coverage on HashiCorp in a report on Tuesday, September 3rd. They set 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 report on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, HashiCorp has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Up 0.1 %

Shares of NASDAQ HCP opened at $33.85 on Tuesday. The firm’s 50-day simple moving average is $33.85 and its 200 day simple moving average is $33.48. The company has a market cap of $6.87 billion, a price-to-earnings ratio of -45.13 and a beta of 1.24. HashiCorp has a 12-month low of $19.05 and a 12-month high of $34.06.

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

Insider Activity

In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $33.85, for a total value of $1,215,350.40. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,452,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CMO Marc Holmes sold 13,782 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total value of $465,969.42. Following the completion of the transaction, the chief marketing officer now directly owns 8,754 shares in the company, valued at approximately $295,972.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $33.85, for a total value of $1,215,350.40. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,452,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 385,125 shares of company stock valued at $13,027,869 in the last ninety days. 22.49% of the stock is owned by insiders.

Hedge Funds Weigh In On HashiCorp

Several institutional investors and hedge funds have recently modified their holdings of HCP. American Capital Advisory LLC acquired a new position in shares of HashiCorp in the 2nd quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HashiCorp in the 3rd quarter valued at approximately $51,000. Advisors Asset Management Inc. grew its position in shares of HashiCorp by 43.0% in the 1st 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 grew its position in shares of HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares during the period. Finally, Quest Partners LLC boosted its position in HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after acquiring an additional 3,505 shares during the last quarter. 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.