HashiCorp (NASDAQ:HCP) Receives New Coverage from Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research report issued on Friday. The firm set a “hold” rating on the stock.

Several other research analysts have also recently issued reports on HCP. Citigroup started coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Finally, JMP Securities reaffirmed 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 assigned a buy rating to the company. According to data from MarketBeat, HashiCorp presently has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Up 0.1 %

Shares of HashiCorp stock opened at $33.79 on Friday. The stock’s fifty day moving average is $33.85 and its two-hundred day moving average is $32.58. The company has a market capitalization of $6.79 billion, a PE ratio of -35.20 and a beta of 1.25. HashiCorp has a 52 week low of $18.91 and a 52 week high of $34.06.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The company had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. During the same quarter last year, the company earned ($0.34) earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, research analysts anticipate that HashiCorp will post -0.48 earnings per share for the current year.

Insider Transactions at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $33.84, for a total value of $1,214,991.36. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,436,800. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other HashiCorp news, CMO Marc Holmes sold 13,782 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total value of $465,969.42. Following the sale, the chief marketing officer now owns 8,754 shares of the company’s stock, valued at approximately $295,972.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total value of $1,214,991.36. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,436,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 390,125 shares of company stock worth $13,178,494. Corporate insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Several large investors have recently added to or reduced their stakes in the business. Whale Rock Capital Management LLC raised its holdings in shares of 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 purchasing an additional 3,404,557 shares during the period. Pentwater Capital Management LP purchased a new stake in shares of HashiCorp during the 2nd quarter valued at about $91,654,000. Magnetar Financial LLC purchased a new stake in shares of HashiCorp during the 2nd quarter valued at about $71,490,000. Champlain Investment Partners LLC purchased a new stake in shares of HashiCorp during the 1st quarter valued at about $48,995,000. Finally, Vanguard Group Inc. raised its holdings in shares of HashiCorp by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after buying an additional 1,501,953 shares during the period. 87.83% of the stock is currently owned by hedge funds and other 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.