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

StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a research report report published on Friday morning. The firm issued a hold rating on the stock.

HCP has been the subject of several other reports. Citigroup assumed coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. Finally, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Price Performance

HCP stock opened at $33.74 on Friday. The company has a market capitalization of $6.78 billion, a PE ratio of -35.15 and a beta of 1.25. HashiCorp has a 12 month low of $18.91 and a 12 month high of $34.06. The firm’s 50-day moving average is $33.85 and its 200 day moving average is $32.74.

HashiCorp (NASDAQ:HCP) last posted its quarterly 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 firm had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. Sell-side analysts forecast that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Activity

In other news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the transaction, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. This represents a 0.00 % 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. In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 transaction of $1,626,181.20. Following the completion of the sale, the chief executive officer now owns 419,531 shares in the company, valued at $14,196,929.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 349,221 shares of company stock valued at $11,808,210 over the last ninety days. 22.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HashiCorp

Several institutional investors and hedge funds have recently modified their holdings of HCP. Swiss National Bank lifted its stake in shares of HashiCorp by 11.8% in the 1st quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after purchasing an additional 23,400 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of HashiCorp in the first quarter worth about $1,070,000. Vanguard Group Inc. boosted its stake in shares of HashiCorp by 10.3% during the 4th quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock worth $253,484,000 after acquiring an additional 999,671 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of HashiCorp during the 1st quarter worth about $649,000. Finally, New York Life Investment Management LLC acquired a new stake in shares of HashiCorp during the 2nd quarter valued at about $11,407,000. Institutional investors and hedge funds 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.