HashiCorp (NASDAQ:HCP) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a note issued to investors on Wednesday. The firm set a “hold” rating on the stock.

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

HashiCorp Price Performance

HCP stock opened at $33.62 on Wednesday. The business’s 50-day moving average is $33.82 and its two-hundred day moving average is $33.74. The firm has a market capitalization of $6.82 billion, a P/E ratio of -55.11 and a beta of 1.21. HashiCorp has a 1 year low of $20.42 and a 1 year high of $34.21.

Insider Activity

In related news, CMO Marc Holmes sold 11,854 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $401,139.36. Following the completion of the transaction, the chief marketing officer now directly owns 22,536 shares of the company’s stock, valued at $762,618.24. This trade represents a 34.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Navam Welihinda sold 18,167 shares of HashiCorp stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $614,771.28. Following the transaction, the chief financial officer now directly owns 105,883 shares of the company’s stock, valued at approximately $3,583,080.72. This represents a 14.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 352,291 shares of company stock valued at $11,912,497 in the last three months. 22.49% of the stock is currently owned by company insiders.

Institutional Trading of HashiCorp

Several large investors have recently modified their holdings of HCP. Neo Ivy Capital Management acquired a new position in shares of HashiCorp in the third quarter worth $2,400,000. Geode Capital Management LLC raised its stake in HashiCorp by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after purchasing an additional 385,118 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in HashiCorp by 39.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock valued at $1,735,000 after purchasing an additional 14,555 shares in the last quarter. K2 Principal Fund L.P. boosted its stake in shares of HashiCorp by 34.0% during the 3rd quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company’s stock worth $3,994,000 after purchasing an additional 29,901 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of HashiCorp by 14.5% during the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after buying an additional 282,965 shares in the last quarter. 86.25% of the stock is currently owned by institutional investors and hedge funds.

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.