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

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

HashiCorp Stock Performance

Shares of HCP opened at $34.78 on Friday. HashiCorp has a 52 week low of $23.91 and a 52 week high of $34.85. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18. The stock has a fifty day moving average of $34.73 and a 200-day moving average of $34.26.

Institutional Trading of HashiCorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in HashiCorp during the 4th quarter worth approximately $161,190,000. Caxton Associates LP grew its stake in shares of HashiCorp by 284.8% in the fourth quarter. Caxton Associates LP now owns 1,086,285 shares of the company’s stock worth $37,162,000 after purchasing an additional 803,980 shares during the last quarter. AQR Arbitrage LLC increased its holdings in HashiCorp by 56.2% in the fourth quarter. AQR Arbitrage LLC now owns 1,933,854 shares of the company’s stock valued at $66,138,000 after purchasing an additional 695,729 shares during the period. National Bank of Canada FI bought a new position in HashiCorp during the 4th quarter worth $23,697,000. Finally, SG Americas Securities LLC lifted its holdings in HashiCorp by 1,512.2% during the 4th quarter. SG Americas Securities LLC now owns 720,930 shares of the company’s stock worth $24,663,000 after buying an additional 676,212 shares during the period. 86.25% of the stock is currently owned by institutional investors.

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.