HashiCorp (NASDAQ:HCP) Coverage Initiated at StockNews.com

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

Other research analysts have also issued research reports about the stock. Bank of America lifted their price target on shares of HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. BTIG Research cut shares of HashiCorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 24th. William Blair cut HashiCorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 24th. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Thursday, June 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of HashiCorp in a research report on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, HashiCorp presently has a consensus rating of “Hold” and an average price target of $31.17.

HashiCorp Stock Up 0.3 %

Shares of HCP stock opened at $33.60 on Wednesday. HashiCorp has a 12-month low of $18.91 and a 12-month high of $34.05. The firm has a fifty day moving average of $33.60 and a 200-day moving average of $29.41. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of -35.00 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. The firm had revenue of $160.58 million during the quarter, compared to analysts’ expectations of $153.39 million. Research analysts expect that HashiCorp will post -0.8 earnings per share for the current year.

Insiders Place Their Bets

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $33.71, for a total transaction of $1,210,323.84. Following the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,239,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Sigal Zarmi sold 975 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $33.60, for a total value of $32,760.00. Following the completion of the sale, the director now directly owns 37,546 shares of the company’s stock, valued at $1,261,545.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $33.71, for a total value of $1,210,323.84. Following the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,239,200. The disclosure for this sale can be found here. Insiders have sold 392,820 shares of company stock valued at $13,143,824 in the last 90 days. 22.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HashiCorp

Several hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in shares of HashiCorp by 11.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after purchasing an additional 63,879 shares during the period. TimesSquare Capital Management LLC grew its stake in HashiCorp by 10.4% in the 4th quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock valued at $63,775,000 after buying an additional 254,720 shares during the last quarter. Swiss National Bank raised its holdings in HashiCorp by 11.8% in the 1st quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after acquiring an additional 23,400 shares during the period. Contour Asset Management LLC acquired a new stake in HashiCorp during the fourth quarter worth approximately $21,217,000. Finally, GGV Capital LLC boosted its holdings in shares of HashiCorp by 4.6% during the fourth quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock worth $15,579,000 after acquiring an additional 29,064 shares during the period. 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.