HashiCorp (NASDAQ:HCP) Now Covered by StockNews.com

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

A number of other research analysts also recently commented on HCP. Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. Finally, JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.08.

HashiCorp Price Performance

NASDAQ:HCP opened at $33.92 on Friday. HashiCorp has a twelve month low of $19.26 and a twelve month high of $34.21. The company has a market cap of $6.88 billion, a P/E ratio of -45.23 and a beta of 1.24. The business has a 50 day moving average price of $33.87 and a two-hundred day moving average price of $33.69.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The company had revenue of $165.14 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.34) EPS. As a group, analysts anticipate that HashiCorp will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $33.90, for a total transaction of $1,217,111.70. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,528,000. This trade represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ledger Susan St. sold 22,232 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $752,330.88. Following the completion of the sale, the insider now directly owns 167,747 shares of the company’s stock, valued at $5,676,558.48. The trade was a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 366,208 shares of company stock worth $12,391,868 in the last 90 days. Company insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Xponance Inc. boosted its holdings 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 during the last quarter. Comerica Bank boosted its position in HashiCorp by 2.1% in the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after buying an additional 374 shares during the last quarter. KBC Group NV increased its position in shares of HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after acquiring an additional 731 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of HashiCorp by 4.8% in the third quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock worth $646,000 after buying an additional 873 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after purchasing an additional 961 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.