StockNews.com Begins Coverage on HashiCorp (NASDAQ:HCP)

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

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

HashiCorp Price Performance

Shares of HCP opened at $33.68 on Thursday. HashiCorp has a 1-year low of $18.91 and a 1-year high of $34.06. The company has a 50-day moving average of $33.85 and a 200 day moving average of $32.96. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of -44.91 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.34) EPS. On average, equities analysts anticipate that HashiCorp will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at HashiCorp

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. In related news, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were 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 directly owns 88,322 shares in the company, valued at $2,991,466.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $33.66, for a total transaction of $468,412.56. Following the completion of the transaction, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at approximately $147,026.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 385,125 shares of company stock worth $13,022,483. Company insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Large investors have recently made changes to their positions in the company. Townsend Asset Management Corp NC ADV acquired a new position in HashiCorp during the third quarter worth $205,000. Renaissance Capital LLC raised its position in HashiCorp by 76.0% during the third quarter. Renaissance Capital LLC now owns 152,143 shares of the company’s stock worth $5,152,000 after acquiring an additional 65,717 shares during the period. Kapitalo Investimentos Ltda raised its position in HashiCorp by 123.1% during the third quarter. Kapitalo Investimentos Ltda now owns 373,882 shares of the company’s stock worth $12,660,000 after acquiring an additional 206,307 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HashiCorp during the third quarter worth $51,000. Finally, Wedmont Private Capital acquired a new position in HashiCorp during the third quarter worth $344,000. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.