Analysts Set HashiCorp, Inc. (NASDAQ:HCP) Target Price at $32.08

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $32.27.

A number of research analysts have recently issued reports on HCP shares. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. StockNews.com upgraded shares of HashiCorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th.

HashiCorp Price Performance

Shares of HashiCorp stock opened at $34.78 on Friday. HashiCorp has a 52-week low of $23.00 and a 52-week high of $34.85. The company’s 50-day simple moving average is $34.32 and its 200-day simple moving average is $34.01. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18.

Insiders Place Their Bets

In other HashiCorp news, CEO David Mcjannet sold 47,526 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at $15,945,767.16. This represents a 9.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Armon Dadgar sold 35,903 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.58, for a total transaction of $1,205,622.74. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,041,600. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,229 shares of company stock worth $3,441,256. 22.49% of the stock is owned by company insiders.

Institutional Trading of HashiCorp

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in shares of HashiCorp by 14.5% in the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock valued at $75,841,000 after purchasing an additional 282,965 shares in the last quarter. Syquant Capital Sas purchased a new position in shares of HashiCorp during the fourth quarter valued at approximately $18,554,000. Geode Capital Management LLC lifted its stake in shares of HashiCorp by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after buying an additional 385,118 shares during the period. Perigon Wealth Management LLC lifted its stake in shares of HashiCorp by 42.7% during the fourth quarter. Perigon Wealth Management LLC now owns 240,982 shares of the company’s stock valued at $8,268,000 after buying an additional 72,088 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of HashiCorp by 41.9% during the third quarter. Principal Financial Group Inc. now owns 11,516 shares of the company’s stock valued at $390,000 after buying an additional 3,399 shares during the period. Hedge funds and other institutional investors own 86.25% of the company’s stock.

HashiCorp Company Profile

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.