HashiCorp, Inc. (NASDAQ:HCP) Given Consensus Rating of “Hold” by Analysts

HashiCorp, Inc. (NASDAQ:HCP) has received a consensus rating of “Hold” from the fourteen analysts that are covering the company, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $32.08.

HCP has been the subject of several research analyst reports. Citigroup started coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price for the company. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Piper Sandler reissued a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Finally, StockNews.com assumed coverage on shares of HashiCorp in a report on Monday. They set a “hold” rating for the company.

HashiCorp Stock Down 0.2 %

Shares of HCP opened at $34.00 on Thursday. HashiCorp has a twelve month low of $19.26 and a twelve month high of $34.21. The stock has a market capitalization of $6.90 billion, a P/E ratio of -45.33 and a beta of 1.24. The company has a 50 day moving average of $33.87 and a 200-day moving average of $33.62.

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

Insider Activity at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $33.85, for a total value of $1,215,350.40. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,452,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $33.85, for a total transaction of $1,215,350.40. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,452,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Mcjannet sold 48,055 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the sale, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at $14,196,929.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 371,209 shares of company stock valued at $12,559,456. 22.49% of the stock is owned by insiders.

Institutional Investors Weigh In On HashiCorp

Several institutional investors and hedge funds have recently made changes to their positions in HCP. Vanguard Group Inc. grew its holdings in HashiCorp by 14.0% in the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after purchasing an additional 1,501,953 shares during the period. Whale Rock Capital Management LLC boosted its position in shares of HashiCorp by 293.2% during 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 in the last quarter. Jericho Capital Asset Management L.P. grew its stake in shares of 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 valued at $89,985,000 after buying an additional 1,161,600 shares during the period. Pentwater Capital Management LP bought a new stake in HashiCorp in the 2nd quarter valued at about $91,654,000. Finally, Alpine Associates Management Inc. raised its stake in HashiCorp by 48.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after buying an additional 701,350 shares during the period. 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.