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

Equities researchers at StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research report issued on Sunday. The brokerage set a “hold” rating on the stock.

HCP has been the topic of a number of other research reports. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Piper Sandler restated a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup assumed 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. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, HashiCorp has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Trading Down 0.4 %

Shares of NASDAQ:HCP opened at $33.60 on Friday. The firm has a 50 day simple moving average of $33.88 and a 200-day simple moving average of $33.65. The company has a market capitalization of $6.82 billion, a PE ratio of -44.99 and a beta of 1.24. HashiCorp has a twelve month low of $19.26 and a twelve month high of $34.21.

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%. HashiCorp’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.34) earnings per share. As a group, equities research analysts predict that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Transactions at HashiCorp

In other HashiCorp 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 transaction of $169,350.00. Following 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 5.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,467,200. This trade represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,209 shares of company stock worth $12,559,456. Company insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Several hedge funds and other institutional investors have recently made changes to their positions in HCP. Swiss National Bank grew its position in HashiCorp by 11.8% during the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $5,972,000 after buying an additional 23,400 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of HashiCorp during the 1st quarter worth approximately $1,070,000. Bessemer Group Inc. acquired a new stake in shares of HashiCorp in the 1st quarter worth approximately $649,000. Vanguard Group Inc. increased its stake 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 in the last quarter. Finally, New York Life Investment Management LLC acquired a new position in HashiCorp during the second quarter worth $11,407,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

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.