HashiCorp (NASDAQ:HCP) Research Coverage Started at StockNews.com

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

Other equities analysts also recently issued reports about the stock. Citigroup started coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, Piper Sandler reissued a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, HashiCorp presently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Price Performance

HashiCorp stock opened at $33.92 on Wednesday. The company’s 50 day simple moving average is $33.85 and its 200 day simple moving average is $33.21. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of -45.23 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. As a group, analysts predict that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $33.82, for a total transaction of $1,214,273.28. Following the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,406,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other HashiCorp news, insider Ledger Susan St. sold 22,232 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $752,330.88. Following the transaction, the insider now directly owns 167,747 shares in the company, valued at approximately $5,676,558.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $33.82, for a total value of $1,214,273.28. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,406,400. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 349,221 shares of company stock valued at $11,812,159. 22.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HashiCorp

Large investors have recently modified their holdings of the company. American Capital Advisory LLC bought a new position in HashiCorp during the 2nd quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in HashiCorp in the 3rd quarter worth about $51,000. Advisors Asset Management Inc. increased its holdings in HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after acquiring an additional 961 shares during the last quarter. Covestor Ltd increased its holdings in HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after acquiring an additional 3,480 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after acquiring an additional 3,505 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors.

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.