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

StockNews.com began coverage on shares of HashiCorp (NASDAQ:HCP) in a report released on Friday. The brokerage issued a hold rating on the stock.

Several other equities analysts also recently weighed in on the company. Piper Sandler reiterated a neutral rating and set a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. JMP Securities reiterated a market perform rating on shares of HashiCorp in a research report on Thursday, June 6th. Finally, Citigroup initiated coverage on HashiCorp in a research report on Tuesday. They set a neutral rating and a $35.00 target price on the stock. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, HashiCorp presently has a consensus rating of Hold and a consensus target price of $32.08.

HashiCorp Price Performance

Shares of HCP opened at $33.65 on Friday. HashiCorp has a one year low of $18.91 and a one year high of $34.05. The firm has a market capitalization of $6.77 billion, a P/E ratio of -35.05 and a beta of 1.25. The business has a fifty day moving average of $33.68 and a 200 day moving average of $30.99.

HashiCorp (NASDAQ:HCP) last released its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The company had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.60% and a negative net margin of 23.69%. HashiCorp’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) earnings per share. Analysts expect that HashiCorp will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total value of $1,214,632.32. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,421,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other HashiCorp 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 transaction of $169,350.00. Following the sale, the chief financial officer now directly owns 88,322 shares of the company’s stock, valued at $2,991,466.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total value of $1,214,632.32. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,421,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 406,736 shares of company stock worth $13,639,660. Corporate insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Several large investors have recently added to or reduced their stakes in the stock. American Capital Advisory LLC bought a new position in shares of HashiCorp during the second quarter valued at approximately $40,000. Advisors Asset Management Inc. grew its stake in shares of HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares during the last quarter. Covestor Ltd grew its stake in shares of 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 buying an additional 3,480 shares during the last quarter. Quest Partners LLC grew its stake in shares of HashiCorp by 9,736.1% during the second 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 during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of HashiCorp during the second quarter valued at approximately $208,000. 87.83% of the stock is owned by institutional investors.

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.