HashiCorp (NASDAQ:HCP) Receives New Coverage from Analysts at StockNews.com

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

Other research 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. Citigroup began coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Finally, Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective 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 given a buy rating to the stock. According to MarketBeat.com, HashiCorp presently has a consensus rating of “Hold” and a consensus price target of $32.08.

HashiCorp Stock Performance

HCP stock opened at $33.67 on Thursday. The firm has a 50 day simple moving average of $33.85 and a 200 day simple moving average of $32.86. HashiCorp has a 52 week low of $18.91 and a 52 week high of $34.06. The stock has a market cap of $6.77 billion, a P/E ratio of -35.07 and a beta of 1.25.

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

Insider Transactions at HashiCorp

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $33.66, for a total value of $468,412.56. Following the sale, the chief marketing officer now directly owns 4,368 shares in the company, valued at $147,026.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Navam Welihinda sold 5,000 shares of the firm’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 of the company’s stock, valued at $2,991,466.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $33.66, for a total value of $468,412.56. Following the completion of the transaction, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at $147,026.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 385,125 shares of company stock valued at $13,022,483. Corporate insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HCP. Vanguard Group Inc. raised its holdings in HashiCorp by 10.3% in the fourth quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock worth $253,484,000 after purchasing an additional 999,671 shares during the period. Diversified Trust Co acquired a new stake in HashiCorp during the 1st quarter worth $416,000. SG Americas Securities LLC lifted its holdings in HashiCorp by 190.2% during the first quarter. SG Americas Securities LLC now owns 71,228 shares of the company’s stock worth $1,920,000 after acquiring an additional 46,684 shares in the last quarter. Swiss National Bank grew its stake in HashiCorp by 11.8% in the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after acquiring an additional 23,400 shares during the period. Finally, Entropy Technologies LP acquired a new position in HashiCorp in the first quarter valued at about $311,000. 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.