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

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a note issued to investors on Monday. The firm set a “hold” rating on the stock.

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

HashiCorp Stock Performance

HCP opened at $33.90 on Monday. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -35.31 and a beta of 1.25. The company has a fifty day moving average of $33.77 and a 200 day moving average of $31.96. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.06.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The business had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. HashiCorp’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.34) earnings per share. On average, equities research analysts forecast that HashiCorp will post -0.48 earnings per share for the current year.

Insider Transactions at HashiCorp

In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $33.64, for a total transaction of $1,207,810.56. Following the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,132,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $33.64, for a total value of $1,207,810.56. Following the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,132,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the sale, the chief financial officer now owns 91,485 shares of the company’s stock, valued at $3,064,747.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,041 shares of company stock worth $13,636,943. 22.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after purchasing an additional 1,501,953 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in HashiCorp by 293.2% in the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after acquiring an additional 3,404,557 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its stake in HashiCorp by 53.3% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after acquiring an additional 1,161,600 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. lifted its stake in HashiCorp by 50.0% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after acquiring an additional 949,100 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in HashiCorp by 35.7% in the 4th quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock worth $64,350,000 after acquiring an additional 716,574 shares in the last quarter. Institutional investors 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.