HashiCorp (NASDAQ:HCP) Stock Rating Reaffirmed by JMP Securities

HashiCorp (NASDAQ:HCP)‘s stock had its “market perform” rating restated by equities researchers at JMP Securities in a research report issued on Monday, Benzinga reports.

HCP has been the topic of several other research reports. StockNews.com started coverage on HashiCorp in a research note on Thursday. They set a “hold” rating on the stock. Citigroup started coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. Finally, Piper Sandler restated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, HashiCorp currently has an average rating of “Hold” and an average price target of $32.08.

HashiCorp Price Performance

Shares of NASDAQ HCP traded up $0.09 during mid-day trading on Monday, reaching $33.93. 245,656 shares of the company traded hands, compared to its average volume of 3,328,276. The firm has a market cap of $6.88 billion, a PE ratio of -35.36 and a beta of 1.25. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.05. The stock has a fifty day simple moving average of $33.69 and a 200-day simple moving average of $31.44.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter last year, the business posted ($0.34) EPS. HashiCorp’s revenue was up 15.3% on a year-over-year basis. As a group, analysts predict that HashiCorp will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling at HashiCorp

In related news, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO David Mcjannet sold 48,055 shares of HashiCorp stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.26, for a total value of $1,598,309.30. Following the transaction, the chief executive officer now directly owns 373,330 shares in the company, valued at $12,416,955.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. The disclosure for this sale can be found here. Insiders have sold a total of 406,736 shares of company stock worth $13,640,495 over the last three months. Corporate insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. American Capital Advisory LLC acquired a new stake in shares of HashiCorp in the second quarter worth $40,000. Advisors Asset Management Inc. lifted its holdings in shares of HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after acquiring an additional 961 shares during the period. Covestor Ltd boosted its holdings in HashiCorp by 12,888.9% during the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares in the last quarter. Quest Partners LLC boosted its stake in HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of HashiCorp in the 2nd quarter worth about $208,000. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.