StockNews.com Initiates Coverage on HashiCorp (NASDAQ:HCP)

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

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

HashiCorp Price Performance

Shares of HashiCorp stock opened at $33.69 on Thursday. HashiCorp has a 1 year low of $18.91 and a 1 year high of $34.06. The business has a 50-day moving average of $33.85 and a two-hundred day moving average of $32.86. The company has a market capitalization of $6.77 billion, a P/E ratio of -35.09 and a beta of 1.25.

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

Insider Buying and Selling

In related news, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the sale, the chief financial officer now directly owns 88,322 shares in the company, valued at $2,991,466.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total transaction of $169,350.00. Following the completion of the transaction, the chief financial officer now owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the completion of the transaction, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 385,125 shares of company stock valued at $13,022,483. Insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Institutional investors and hedge funds have recently made changes to their positions in the business. American Capital Advisory LLC acquired a new position in HashiCorp during the 2nd quarter worth approximately $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HashiCorp during the 3rd quarter worth approximately $51,000. Advisors Asset Management Inc. raised its stake in 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 during the period. Covestor Ltd raised its stake in HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after buying an additional 3,480 shares during the period. Finally, Quest Partners LLC raised its stake in HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares during the period. Institutional investors own 87.83% of the company’s stock.

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.