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

StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a report published on Thursday morning. The brokerage issued a hold rating on the stock.

Several other brokerages also recently commented on HCP. Piper Sandler reiterated a neutral rating and set a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. Citigroup started 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 reiterated a market perform rating on shares of HashiCorp in a research note on Thursday, June 6th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, HashiCorp currently has an average rating of Hold and a consensus target price of $32.08.

HashiCorp Stock Up 0.1 %

NASDAQ:HCP opened at $33.84 on Thursday. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of -35.25 and a beta of 1.25. HashiCorp has a twelve month low of $18.91 and a twelve month high of $34.05. The stock’s 50 day moving average price is $33.69 and its two-hundred day moving average price is $31.44.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.34) EPS. As a group, analysts anticipate that HashiCorp will post -0.59 earnings per share for the current year.

Insider Activity at HashiCorp

In related news, Director Sigal Zarmi sold 975 shares of the business’s stock in a transaction 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 in the company, valued at approximately $1,261,545.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Ledger Susan St. sold 22,366 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $33.26, for a total transaction of $743,893.16. Following the completion of the sale, the insider now directly owns 143,072 shares in the company, valued at approximately $4,758,574.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sigal Zarmi sold 975 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.60, for a total value of $32,760.00. Following the sale, the director now owns 37,546 shares of the company’s stock, valued at $1,261,545.60. The disclosure for this sale can be found here. Insiders sold 406,736 shares of company stock worth $13,640,495 in the last ninety days. 22.49% of the stock is owned by company insiders.

Institutional Trading of HashiCorp

A number of institutional investors have recently modified their holdings of the stock. Xponance Inc. lifted its position in shares of HashiCorp by 3.1% during the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock valued at $346,000 after acquiring an additional 305 shares during the period. Comerica Bank raised its holdings in shares of HashiCorp by 2.1% during the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after buying an additional 374 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of HashiCorp by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock worth $1,020,000 after buying an additional 420 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of HashiCorp by 3.5% during the 2nd quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock worth $1,075,000 after buying an additional 1,065 shares in the last quarter. 87.83% of the stock is currently 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.