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

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

Other equities analysts have also issued reports about the company. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. Citigroup initiated coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. Finally, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, HashiCorp presently has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Performance

Shares of HCP opened at $33.77 on Friday. The firm has a fifty day moving average of $33.87 and a 200-day moving average of $33.70. The company has a market cap of $6.85 billion, a price-to-earnings ratio of -45.03 and a beta of 1.24. HashiCorp has a 1 year low of $19.26 and a 1 year high of $34.21.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. During the same period in the previous year, the business posted ($0.34) EPS. HashiCorp’s revenue was up 15.3% on a year-over-year basis. Analysts predict that HashiCorp will post -0.48 EPS for the current year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total transaction of $1,214,632.32. Following the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,421,600. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total transaction of $470,360.80. Following the sale, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at approximately $147,638.40. This represents a 76.11 % 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 valued at $12,391,868 in the last three months. 22.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HashiCorp

A number of hedge funds and other institutional investors have recently made changes to their positions in HCP. Neo Ivy Capital Management acquired a new position in shares of HashiCorp during the 3rd quarter worth $2,400,000. Geode Capital Management LLC boosted its holdings in HashiCorp by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after purchasing an additional 385,118 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in HashiCorp by 39.7% during the third quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock worth $1,735,000 after buying an additional 14,555 shares during the last quarter. K2 Principal Fund L.P. raised its holdings in HashiCorp by 34.0% during the third quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company’s stock valued at $3,994,000 after buying an additional 29,901 shares in the last quarter. Finally, State Street Corp lifted its position in shares of HashiCorp by 14.5% in the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after buying an additional 282,965 shares during the last quarter. 87.83% of the stock is owned by hedge funds and other institutional investors.

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.