HashiCorp’s (HCP) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reissued their market perform rating on shares of HashiCorp (NASDAQ:HCP) in a research report report published on Monday,Benzinga reports.

A number of other equities analysts have also issued reports on the company. Citigroup initiated coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. Finally, StockNews.com began coverage on shares of HashiCorp in a research report on Wednesday, December 11th. They issued a “hold” rating on the stock. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Price Performance

HashiCorp stock opened at $34.08 on Monday. HashiCorp has a 12-month low of $20.89 and a 12-month high of $34.21. The stock has a market capitalization of $6.97 billion, a PE ratio of -55.87 and a beta of 1.21. The firm has a 50 day simple moving average of $33.81 and a 200-day simple moving average of $33.75.

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 35,903 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.58, for a total value of $1,205,622.74. Following the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,041,600. The trade was a 2.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Marc Holmes sold 11,854 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $401,139.36. Following the completion of the sale, the chief marketing officer now owns 22,536 shares in the company, valued at $762,618.24. This trade represents a 34.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 352,291 shares of company stock worth $11,912,497. 22.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HashiCorp

Several institutional investors and hedge funds have recently made changes to their positions in HCP. Longfellow Investment Management Co. LLC acquired a new stake in shares of HashiCorp during the 3rd quarter worth about $38,000. American Capital Advisory LLC bought a new stake in HashiCorp during the second quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HashiCorp during the third quarter worth approximately $51,000. Quest Partners LLC raised its stake in shares of HashiCorp by 9,736.1% in the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after acquiring an additional 3,505 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after acquiring an additional 731 shares during the last quarter. Institutional investors and hedge funds 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.