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

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a report released on Thursday morning. The firm issued a hold rating on the stock.

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

HashiCorp Stock Up 0.0 %

Shares of NASDAQ:HCP opened at $33.68 on Thursday. The stock has a market cap of $6.83 billion, a PE ratio of -44.91 and a beta of 1.25. The company’s fifty day moving average is $33.85 and its 200 day moving average is $32.96. HashiCorp has a 52 week low of $18.91 and a 52 week high of $34.06.

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

Insiders Place Their Bets

In other news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the transaction, the chief financial officer now owns 88,322 shares in the company, valued at $2,991,466.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were 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 directly owns 419,531 shares of the company’s stock, valued at $14,196,929.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $169,350.00. Following the completion of the transaction, the chief financial officer now owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 385,125 shares of company stock worth $13,022,483. Company insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. American Capital Advisory LLC bought a new stake in shares of HashiCorp in the 2nd quarter worth approximately $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HashiCorp in the third quarter worth $51,000. Advisors Asset Management Inc. grew its stake in shares of HashiCorp by 43.0% in the first 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 increased its holdings in shares of HashiCorp by 12,888.9% during the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after acquiring an additional 3,480 shares in the last quarter. Finally, Quest Partners LLC raised 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 worth $119,000 after purchasing an additional 3,505 shares during the last quarter. 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.