HashiCorp’s (HCP) Market Perform Rating Reaffirmed at JMP Securities

JMP Securities restated their market perform rating on shares of HashiCorp (NASDAQ:HCP) in a research note released on Monday,Benzinga reports.

A number of other brokerages have also recently commented on HCP. StockNews.com initiated coverage on HashiCorp in a research report on Wednesday, December 11th. They issued a “hold” rating on the stock. Citigroup assumed coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $32.08.

HashiCorp Stock Up 0.2 %

NASDAQ HCP opened at $33.84 on Monday. The firm has a market capitalization of $6.92 billion, a PE ratio of -55.48 and a beta of 1.21. The stock’s 50 day moving average is $33.81 and its 200 day moving average is $33.74. HashiCorp has a twelve month low of $20.89 and a twelve month high of $34.21.

Insider Activity at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,903 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $33.90, for a total transaction of $1,217,111.70. Following the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,528,000. The trade was a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the sale, the chief executive officer now owns 419,531 shares of the company’s stock, valued at $14,196,929.04. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 352,291 shares of company stock worth $11,912,497. 22.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HCP. Longfellow Investment Management Co. LLC purchased a new position in HashiCorp in the third quarter worth $38,000. American Capital Advisory LLC purchased a new stake in shares of HashiCorp in the 2nd quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HashiCorp in the third quarter worth $51,000. Quest Partners LLC raised its holdings in shares of HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after purchasing an additional 3,505 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of HashiCorp by 25.8% during the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after buying an additional 731 shares during the last quarter. Hedge funds and other institutional investors own 86.25% 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.