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

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a report released on Tuesday. The firm set a “hold” rating on the stock.

Several other equities analysts have also commented on HCP. Scotiabank reaffirmed a “sector perform” rating and set a $35.00 target price (up from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. Bank of America upped their target price on HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Piper Sandler upped their target price on HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Stifel Nicolaus boosted their price objective on HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, BTIG Research downgraded HashiCorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 24th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.17.

HashiCorp Stock Performance

NASDAQ:HCP opened at $33.75 on Tuesday. HashiCorp has a one year low of $18.91 and a one year high of $34.05. The business’s 50-day simple moving average is $33.29 and its 200 day simple moving average is $27.52. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of -35.16 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. The firm had revenue of $160.58 million during the quarter, compared to analyst estimates of $153.39 million. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. On average, equities research analysts predict that HashiCorp will post -0.8 EPS for the current year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total transaction of $365,990.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $24.31, for a total value of $872,826.24. Following the transaction, the chief technology officer now directly owns 1,625,260 shares of the company’s stock, valued at $39,510,070.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $26.30, for a total transaction of $365,990.80. The disclosure for this sale can be found here. Insiders have sold a total of 359,266 shares of company stock valued at $11,517,392 in the last three months. 22.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HashiCorp

Hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in HashiCorp during the third quarter worth $309,000. Charles Schwab Investment Management Inc. increased its position in HashiCorp by 11.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock worth $14,821,000 after buying an additional 63,879 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in HashiCorp by 10.4% during the fourth quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock valued at $63,775,000 after acquiring an additional 254,720 shares during the period. Artemis Investment Management LLP bought a new stake in HashiCorp during the fourth quarter valued at about $7,124,000. Finally, Contour Asset Management LLC bought a new stake in HashiCorp during the fourth quarter valued at about $21,217,000. 87.83% of the stock is 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.