HashiCorp, Inc. (NASDAQ:HCP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been given a consensus recommendation of “Hold” by the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $32.08.

Several equities analysts have commented on HCP shares. StockNews.com raised shares of HashiCorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th.

Insider Transactions at HashiCorp

In related news, CEO David Mcjannet sold 47,526 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the sale, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at $15,945,767.16. This trade represents a 9.26 % 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 17,800 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the completion of the sale, the chief technology officer now owns 31,348 shares in the company, valued at $1,073,042.04. This represents a 36.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 173,036 shares of company stock valued at $5,874,078. 22.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently bought and sold shares of HCP. ING Groep NV increased its position in HashiCorp by 851.2% in the 3rd quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock valued at $56,587,000 after buying an additional 1,495,500 shares in the last quarter. Westchester Capital Management LLC increased its holdings in shares of HashiCorp by 60.5% during the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock valued at $108,363,000 after acquiring an additional 1,206,073 shares in the last quarter. Water Island Capital LLC bought a new position in shares of HashiCorp in the 2nd quarter worth $37,762,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in HashiCorp by 2,195.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 968,500 shares of the company’s stock valued at $32,629,000 after purchasing an additional 926,300 shares during the period. Finally, Melqart Asset Management UK Ltd bought a new stake in HashiCorp during the 3rd quarter valued at $28,224,000. Institutional investors and hedge funds own 86.25% of the company’s stock.

HashiCorp Trading Up 0.2 %

NASDAQ:HCP opened at $34.31 on Tuesday. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of -56.24 and a beta of 1.18. HashiCorp has a 12-month low of $21.50 and a 12-month high of $34.47. The company’s 50-day moving average is $34.02 and its two-hundred day moving average is $33.87.

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.