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

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been given an average recommendation of “Hold” by the fourteen analysts that are covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $32.08.

A number of brokerages have recently commented on HCP. Citigroup began coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price for the company. StockNews.com began coverage on shares of HashiCorp in a report on Wednesday, December 11th. They issued a “hold” rating for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th.

HashiCorp Stock Performance

Shares of NASDAQ:HCP opened at $33.78 on Monday. The company has a 50-day simple moving average of $33.81 and a 200-day simple moving average of $33.74. HashiCorp has a one year low of $20.89 and a one year high of $34.21. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of -55.38 and a beta of 1.21.

Insiders Place Their Bets

In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were 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 owns 419,531 shares of the company’s stock, valued at $14,196,929.04. This represents a 10.28 % 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 352,291 shares of company stock worth $11,912,497. 22.49% of the stock is owned by company insiders.

Institutional Trading of HashiCorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Xponance Inc. lifted its stake in shares of HashiCorp by 3.1% during the second quarter. Xponance Inc. now owns 10,271 shares of the company’s stock valued at $346,000 after buying an additional 305 shares during the period. Comerica Bank lifted its stake 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 buying an additional 374 shares during the period. KBC Group NV lifted its stake 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 buying an additional 731 shares during the period. Victory Capital Management Inc. lifted its stake 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 buying an additional 873 shares during the period. Finally, Arizona State Retirement System lifted its stake 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 valued at $1,075,000 after buying an additional 1,065 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.