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

HashiCorp, Inc. (NASDAQ:HCP) has earned an average recommendation of “Hold” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $34.40.

HCP has been the topic of a number of research analyst reports. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th.

HashiCorp Price Performance

HashiCorp stock opened at $34.78 on Wednesday. The business has a 50 day moving average price of $34.45 and a two-hundred day moving average price of $34.09. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18. HashiCorp has a 12 month low of $23.00 and a 12 month high of $34.85.

Insiders Place Their Bets

In other news, CEO David Mcjannet sold 47,526 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 465,978 shares of the company’s stock, valued at $15,945,767.16. This represents a 9.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Armon Dadgar sold 17,800 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total value of $609,294.00. Following the completion of the transaction, the chief technology officer now directly owns 31,348 shares in the company, valued at approximately $1,073,042.04. This trade represents a 36.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in HashiCorp by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 16,350,402 shares of the company’s stock worth $559,347,000 after buying an additional 611,447 shares during the period. Norges Bank acquired a new stake in HashiCorp during the 4th quarter worth $161,190,000. Westchester Capital Management LLC raised its stake in HashiCorp by 0.5% during the 4th quarter. Westchester Capital Management LLC now owns 3,217,643 shares of the company’s stock worth $110,076,000 after buying an additional 17,321 shares during the period. Geode Capital Management LLC raised its stake in HashiCorp by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,585,092 shares of the company’s stock worth $88,465,000 after buying an additional 63,090 shares during the period. Finally, Alpine Associates Management Inc. raised its stake in HashiCorp by 11.8% during the 4th quarter. Alpine Associates Management Inc. now owns 2,394,854 shares of the company’s stock worth $81,928,000 after buying an additional 252,700 shares during the period. Institutional investors and hedge funds own 86.25% of the company’s stock.

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.