HashiCorp’s (HCP) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market perform rating on shares of HashiCorp (NASDAQ:HCP) in a report issued on Monday morning,Benzinga reports.

Several other equities research analysts also recently commented on HCP. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Citigroup assumed coverage on HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. Finally, StockNews.com initiated coverage on shares of HashiCorp in a report on Wednesday, December 11th. They issued a “hold” rating on the stock. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Price Performance

Shares of HashiCorp stock opened at $34.08 on Monday. The firm has a market cap of $6.97 billion, a PE ratio of -55.87 and a beta of 1.21. HashiCorp has a 1 year low of $20.89 and a 1 year high of $34.21. The company has a 50 day simple moving average of $33.81 and a two-hundred day simple moving average of $33.75.

Insider Activity

In other news, insider Ledger Susan St. sold 22,232 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $752,330.88. Following the completion of the sale, the insider now owns 167,747 shares in the company, valued at approximately $5,676,558.48. This trade represents a 11.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Marc Holmes sold 11,854 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $401,139.36. Following the transaction, the chief marketing officer now directly owns 22,536 shares of the company’s stock, valued at $762,618.24. This represents a 34.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 352,291 shares of company stock valued at $11,912,497. 22.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Longfellow Investment Management Co. LLC acquired a new stake in HashiCorp during the third quarter worth about $38,000. American Capital Advisory LLC acquired a new stake in shares of HashiCorp in the second quarter worth $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HashiCorp in the 3rd quarter valued at $51,000. Quest Partners LLC lifted its holdings in shares of HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after acquiring an additional 3,505 shares in the last quarter. Finally, KBC Group NV increased its holdings in HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after purchasing an additional 731 shares in the last quarter. Hedge funds and other institutional investors own 86.25% 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.