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

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

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

HashiCorp Price Performance

Shares of NASDAQ HCP opened at $33.93 on Friday. HashiCorp has a 12 month low of $18.91 and a 12 month high of $34.06. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -35.34 and a beta of 1.25. The firm’s 50 day simple moving average is $33.80 and its 200-day simple moving average is $32.19.

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

Insiders Place Their Bets

In related news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $33.46, for a total transaction of $465,629.36. Following the completion of the sale, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $146,153.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the transaction, the chief financial officer now directly owns 91,485 shares of the company’s stock, valued at $3,064,747.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $33.46, for a total value of $465,629.36. Following the completion of the transaction, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $146,153.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 404,041 shares of company stock valued at $13,644,123 in the last three months. 22.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HashiCorp

Several institutional investors have recently bought and sold shares of HCP. American Capital Advisory LLC purchased a new position in shares of HashiCorp in the 2nd quarter valued at about $40,000. Advisors Asset Management Inc. boosted its stake in shares of HashiCorp by 43.0% in the 1st 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 period. Covestor Ltd boosted its stake in shares of HashiCorp by 12,888.9% in the 1st 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 period. Quest Partners LLC boosted its stake in shares of HashiCorp by 9,736.1% in the 2nd 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 period. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of HashiCorp in the 2nd quarter valued at about $208,000. 87.83% of the stock is owned by institutional investors and hedge funds.

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.