StockNews.com Begins Coverage on HashiCorp (NASDAQ:HCP)

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

HCP has been the topic of several other research reports. Piper Sandler reissued a neutral rating and issued a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. Citigroup initiated coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a neutral rating and a $35.00 price target for the company. Finally, JMP Securities reissued a market perform rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $32.08.

HashiCorp Price Performance

Shares of NASDAQ HCP opened at $33.86 on Monday. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The firm has a market capitalization of $6.81 billion, a P/E ratio of -35.27 and a beta of 1.25. The company’s 50 day simple moving average is $33.79 and its 200 day simple moving average is $32.12.

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

Insider Buying and Selling at HashiCorp

In other news, 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 transaction of $1,626,181.20. Following the sale, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CMO Marc Holmes sold 13,782 shares of HashiCorp stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total value of $465,969.42. Following the transaction, the chief marketing officer now owns 8,754 shares in the company, valued at approximately $295,972.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Mcjannet sold 48,055 shares of the company’s 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 owns 419,531 shares of the company’s stock, valued at $14,196,929.04. The disclosure for this sale can be found here. Insiders sold 368,137 shares of company stock valued at $12,429,132 in the last quarter. Company insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Capital Advisory LLC acquired a new position in HashiCorp in the 2nd quarter worth about $40,000. Advisors Asset Management Inc. grew its holdings in HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after acquiring an additional 961 shares during the last quarter. Covestor Ltd grew its stake in shares of HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after purchasing an additional 3,480 shares during the last quarter. Quest Partners LLC grew its position in shares of HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in HashiCorp in the second quarter valued at approximately $208,000. Institutional investors own 87.83% 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.