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

Equities research analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a report issued on Tuesday. The firm set a “hold” rating on the stock.

Several other research analysts have also commented on HCP. Piper Sandler restated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday. Finally, Citigroup assumed coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.08.

HashiCorp Stock Performance

HashiCorp stock opened at $34.08 on Tuesday. HashiCorp has a 1 year low of $20.89 and a 1 year high of $34.21. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of -55.87 and a beta of 1.21. The firm’s 50 day moving average price is $33.81 and its two-hundred day moving average price is $33.75.

Insider Transactions at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 22,779 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $770,841.36. Following the sale, the chief technology officer now owns 44,934 shares of the company’s stock, valued at $1,520,566.56. The trade was a 33.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ledger Susan St. sold 22,232 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $752,330.88. Following the transaction, the insider now directly owns 167,747 shares of the company’s stock, valued at $5,676,558.48. The trade was a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 352,291 shares of company stock worth $11,912,497. 22.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCP. Xponance Inc. raised its holdings in shares of HashiCorp by 3.1% in the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after buying an additional 305 shares in the last quarter. KBC Group NV raised its stake in HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after acquiring an additional 731 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of HashiCorp by 4.8% during the third quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock valued at $646,000 after acquiring an additional 873 shares during the period. Arizona State Retirement System boosted its stake in shares of HashiCorp by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock valued at $1,075,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC bought a new stake in shares of HashiCorp in the 3rd quarter worth about $38,000. Institutional investors own 86.25% 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.