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

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

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

HashiCorp Stock Down 0.5 %

NASDAQ HCP opened at $33.74 on Friday. The company has a market cap of $6.85 billion, a price-to-earnings ratio of -44.99 and a beta of 1.24. HashiCorp has a twelve month low of $19.26 and a twelve month high of $34.21. The business’s fifty day moving average is $33.88 and its 200 day moving average is $33.64.

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

Insider Activity at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at $14,196,929.04. This trade represents a 10.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $33.86, for a total value of $1,215,709.44. Following the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,467,200. This represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 371,209 shares of company stock valued at $12,559,456 over the last ninety days. Corporate insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Institutional investors have recently modified their holdings of the business. Xponance Inc. lifted its holdings in HashiCorp by 3.1% during the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after purchasing an additional 305 shares in the last quarter. Comerica Bank lifted its holdings in shares of HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after buying an additional 374 shares in the last quarter. KBC Group NV boosted its position in shares of HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after acquiring an additional 731 shares during the period. Victory Capital Management Inc. grew its stake in HashiCorp by 4.8% during the third quarter. Victory Capital Management Inc. now owns 19,090 shares of the company’s stock valued at $646,000 after acquiring an additional 873 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings 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 acquiring an additional 961 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.