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

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

A number of other equities research analysts have also commented on the stock. JMP Securities restated a market perform rating on shares of HashiCorp in a report on Monday, September 16th. Citigroup initiated coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a neutral rating and a $35.00 price objective for the company. Finally, Piper Sandler reissued a neutral rating and issued a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $32.08.

HashiCorp Trading Up 0.1 %

NASDAQ:HCP opened at $33.88 on Monday. HashiCorp has a 1-year low of $18.91 and a 1-year high of $34.06. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of -35.29 and a beta of 1.25. The business’s 50-day moving average price is $33.79 and its two-hundred day moving average price is $32.13.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. During the same period last year, the business posted ($0.34) earnings per share. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. Sell-side analysts predict that HashiCorp will post -0.48 earnings per share for the current year.

Insider Buying and Selling at HashiCorp

In related news, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the transaction, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at $14,196,929.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total transaction of $169,350.00. Following the completion of the sale, the chief financial officer now directly owns 88,322 shares in the company, valued at approximately $2,991,466.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Mcjannet sold 48,055 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 419,531 shares in the company, valued at $14,196,929.04. The disclosure for this sale can be found here. Insiders have sold a total of 404,041 shares of company stock valued at $13,644,123 in the last ninety days. 22.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Xponance Inc. lifted its holdings in shares of HashiCorp by 3.1% in the second quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after acquiring an additional 305 shares during the last quarter. Comerica Bank lifted its stake in shares of HashiCorp by 2.1% in the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after acquiring an additional 374 shares during the last quarter. Treasurer of the State of North Carolina raised its position in HashiCorp by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after purchasing an additional 420 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of HashiCorp by 43.0% during the first 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 in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of HashiCorp by 3.5% during the second quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock worth $1,075,000 after purchasing an additional 1,065 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.