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

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research report released on Friday. The brokerage issued a hold rating on the stock.

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

HashiCorp Trading Up 0.1 %

Shares of HCP opened at $33.62 on Friday. The stock has a 50 day moving average of $33.85 and a 200 day moving average of $33.71. HashiCorp has a 12 month low of $19.26 and a 12 month high of $34.21. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of -44.83 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data 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 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 firm posted ($0.34) earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts predict that HashiCorp will post -0.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total transaction of $1,214,632.32. Following the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,421,600. The trade was a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Marc Holmes sold 13,782 shares of HashiCorp stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $33.81, for a total transaction of $465,969.42. Following the completion of the sale, the chief marketing officer now owns 8,754 shares in the company, valued at approximately $295,972.74. This trade represents a 61.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 366,208 shares of company stock valued at $12,391,868 in the last quarter. Insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Xponance Inc. lifted its position in HashiCorp by 3.1% during the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock valued at $346,000 after acquiring an additional 305 shares during the period. Comerica Bank lifted its holdings in shares of HashiCorp by 2.1% during the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after purchasing an additional 374 shares during the last quarter. KBC Group NV lifted its holdings in shares of HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after purchasing an additional 731 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of HashiCorp by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock worth $646,000 after purchasing an additional 873 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake 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 worth $86,000 after buying an additional 961 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.

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.