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

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

A number of other brokerages also recently commented on HCP. Scotiabank reissued a sector perform rating and issued a $35.00 price objective (up previously from $31.00) on shares of HashiCorp in a research note on Thursday, April 25th. Bank of America upped their price target on HashiCorp from $28.00 to $32.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th. Truist Financial reaffirmed a hold rating and set a $35.00 price target (up from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. BTIG Research downgraded HashiCorp from a buy rating to a neutral rating in a research report on Wednesday, April 24th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of HashiCorp in a research report on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $31.17.

HashiCorp Price Performance

Shares of NASDAQ:HCP opened at $33.59 on Friday. HashiCorp has a 1 year low of $18.91 and a 1 year high of $34.05. The business has a 50 day simple moving average of $33.55 and a two-hundred day simple moving average of $28.73. The firm has a market capitalization of $6.75 billion, a PE ratio of -34.99 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. The firm had revenue of $160.58 million during the quarter, compared to the consensus estimate of $153.39 million. Equities research analysts expect that HashiCorp will post -0.8 EPS for the current fiscal year.

Insider Transactions at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $33.50, for a total transaction of $1,202,784.00. Following the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $50,920,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $33.50, for a total transaction of $1,202,784.00. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $50,920,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.26, for a total transaction of $1,598,309.30. Following the transaction, the chief executive officer now owns 373,330 shares of the company’s stock, valued at approximately $12,416,955.80. The disclosure for this sale can be found here. Insiders have sold a total of 392,820 shares of company stock valued at $13,108,279 in the last ninety days. 22.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Comerica Bank lifted its stake in HashiCorp by 2.1% in the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after purchasing an additional 374 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in HashiCorp by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock worth $1,020,000 after purchasing an additional 420 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares during the period. Arizona State Retirement System raised its position in shares of HashiCorp by 6.6% during the 4th quarter. Arizona State Retirement System now owns 28,111 shares of the company’s stock valued at $665,000 after buying an additional 1,750 shares during the period. Finally, Renaissance Capital LLC raised its position in shares of HashiCorp by 3.0% during the 1st quarter. Renaissance Capital LLC now owns 63,964 shares of the company’s stock valued at $1,724,000 after buying an additional 1,857 shares during the period. 87.83% of the stock is owned by hedge funds and other institutional investors.

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.