HashiCorp (NASDAQ:HCP) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of HashiCorp (NASDAQ:HCP) in a research report released on Thursday, Benzinga reports.

A number of other equities analysts have also recently weighed in on the stock. TD Cowen upped their price target on shares of HashiCorp from $23.00 to $26.00 and gave the stock a market perform rating in a research note on Wednesday, March 6th. Scotiabank raised shares of HashiCorp from a sector perform rating to a sector outperform rating and set a $31.00 target price for the company in a report on Tuesday, March 12th. BTIG Research lowered HashiCorp from a buy rating to a neutral rating in a research note on Wednesday. Bank of America raised their price objective on HashiCorp from $28.00 to $32.00 and gave the company a neutral rating in a research note on Wednesday. Finally, Morgan Stanley upgraded HashiCorp from an equal weight rating to an overweight rating and boosted their target price for the stock from $23.00 to $30.00 in a research report on Monday, February 26th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $30.77.

HashiCorp Stock Up 4.5 %

Shares of NASDAQ:HCP opened at $32.82 on Thursday. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $36.39. The firm’s 50-day simple moving average is $25.90 and its 200-day simple moving average is $23.37.

HashiCorp (NASDAQ:HCP) last released its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.06. The company had revenue of $155.78 million for the quarter, compared to analysts’ expectations of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. Equities research analysts expect that HashiCorp will post -0.8 EPS for the current fiscal year.

Insider Activity

In other HashiCorp news, CFO Navam Welihinda sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $21.84, for a total value of $54,600.00. Following the sale, the chief financial officer now directly owns 62,844 shares of the company’s stock, valued at approximately $1,372,512.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other HashiCorp news, Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total transaction of $130,500.00. Following the completion of the sale, the director now directly owns 37,991 shares in the company, valued at $1,139,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Navam Welihinda sold 2,500 shares of HashiCorp stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total value of $54,600.00. Following the completion of the transaction, the chief financial officer now directly owns 62,844 shares in the company, valued at $1,372,512.96. The disclosure for this sale can be found here. Insiders sold a total of 267,427 shares of company stock valued at $6,728,242 over the last quarter. Company insiders own 26.13% of the company’s stock.

Institutional Trading of HashiCorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. lifted its position in HashiCorp by 35.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after buying an additional 615 shares in the last quarter. Industry Ventures L.L.C. purchased a new position in shares of HashiCorp in the 4th quarter valued at $157,000. Victory Capital Management Inc. lifted its holdings in shares of HashiCorp by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after acquiring an additional 2,768 shares in the last quarter. Xponance Inc. boosted its position in HashiCorp by 6.7% during the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after purchasing an additional 673 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in HashiCorp by 10.0% in the 3rd quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock valued at $246,000 after purchasing an additional 978 shares in the last quarter. 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.