HashiCorp (NASDAQ:HCP) Earns Hold Rating from Analysts at StockNews.com

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

A number of other research analysts have also recently issued reports on HCP. Truist Financial reaffirmed a hold rating and issued a $35.00 target price (up from $27.00) on shares of HashiCorp in a report on Thursday, April 25th. BTIG Research cut HashiCorp from a buy rating to a neutral rating in a report on Wednesday, April 24th. Bank of America boosted their target price on HashiCorp from $28.00 to $32.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th. Needham & Company LLC restated a hold rating on shares of HashiCorp in a research report on Thursday, April 25th. Finally, Scotiabank reiterated a sector perform rating and issued a $35.00 price objective (up from $31.00) on shares of HashiCorp in a research report on Thursday, April 25th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $31.17.

HashiCorp Stock Up 0.3 %

Shares of HashiCorp stock opened at $33.94 on Monday. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of -35.35 and a beta of 1.25. HashiCorp has a 52-week low of $18.91 and a 52-week high of $34.05. The company’s 50-day simple moving average is $33.61 and its 200-day simple moving average is $30.20.

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

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $33.65, for a total value of $1,208,169.60. Following the completion of the sale, the chief technology officer now directly owns 1,517,548 shares in the company, valued at $51,065,490.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $33.65, for a total transaction of $1,208,169.60. Following the completion of the sale, the chief technology officer now directly owns 1,517,548 shares in the company, valued at approximately $51,065,490.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction on Monday, August 12th. The shares were sold at an average price of $33.66, for a total value of $468,412.56. Following the completion of the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at approximately $147,026.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 365,832 shares of company stock valued at $12,248,497. Insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

A number of institutional investors have recently modified their holdings of the company. 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 worth $346,000 after purchasing an additional 305 shares in the last quarter. Comerica Bank boosted its holdings 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 acquiring an additional 374 shares during the period. Treasurer of the State of North Carolina boosted its holdings 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 acquiring an additional 420 shares during the period. Advisors Asset Management Inc. grew its position in HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after acquiring an additional 961 shares in the last quarter. Finally, Arizona State Retirement System raised 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 purchasing an additional 1,065 shares during the period. Hedge funds and other institutional investors 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.