HashiCorp (NASDAQ:HCP) Coverage Initiated at StockNews.com

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

Other equities research analysts have also issued research reports about the stock. Citigroup began coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Finally, Piper Sandler reissued a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Up 0.6 %

NASDAQ:HCP opened at $33.82 on Friday. HashiCorp has a fifty-two week low of $19.26 and a fifty-two week high of $34.21. The firm’s 50 day moving average is $33.87 and its two-hundred day moving average is $33.66. The company has a market cap of $6.86 billion, a P/E ratio of -44.81 and a beta of 1.24.

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

Insider Activity

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at approximately $147,638.40. This represents a 76.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $33.83, for a total transaction of $1,214,632.32. Following the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,421,600. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 330,305 shares of company stock valued at $11,174,756 over the last three months. Insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Large investors have recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in 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. Vanguard Group Inc. raised its position in HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after purchasing an additional 1,501,953 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of HashiCorp during the first quarter worth $457,000. Covestor Ltd increased 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 valued at $95,000 after buying an additional 3,480 shares in the last quarter. Finally, Champlain Investment Partners LLC bought a new position in shares of HashiCorp in the first quarter valued at about $48,995,000. 87.83% of the stock is owned by institutional investors.

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.