HashiCorp (NASDAQ:HCP) Now Covered by Analysts at StockNews.com

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

A number of other research firms have also weighed in on HCP. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup began coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Performance

Shares of HCP opened at $33.94 on Wednesday. The stock has a 50-day moving average of $33.71 and a two-hundred day moving average of $31.55. The stock has a market cap of $6.82 billion, a P/E ratio of -35.35 and a beta of 1.25. HashiCorp has a one year low of $18.91 and a one year high of $34.06.

HashiCorp (NASDAQ:HCP) last released its earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The company’s revenue was up 15.3% compared to the same quarter last year. Analysts predict that HashiCorp will post -0.59 EPS for the current fiscal year.

Insider Activity

In other HashiCorp news, Director Sigal Zarmi sold 975 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.60, for a total value of $32,760.00. Following the transaction, the director now directly owns 37,546 shares of the company’s stock, valued at approximately $1,261,545.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other HashiCorp news, Director Sigal Zarmi sold 975 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $33.60, for a total value of $32,760.00. Following the completion of the sale, the director now directly owns 37,546 shares of the company’s stock, valued at approximately $1,261,545.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at approximately $147,638.40. The disclosure for this sale can be found here. Insiders sold 406,736 shares of company stock worth $13,640,495 over the last three months. Insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in shares of HashiCorp by 11.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after acquiring an additional 63,879 shares during the last quarter. Swiss National Bank increased its holdings in HashiCorp by 11.8% in the 1st quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after purchasing an additional 23,400 shares during the last quarter. Contour Asset Management LLC purchased a new stake in HashiCorp in the fourth quarter valued at approximately $21,217,000. GGV Capital LLC lifted its stake in HashiCorp by 4.6% during the fourth quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock worth $15,579,000 after purchasing an additional 29,064 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of HashiCorp during the fourth quarter worth $3,158,000. Institutional investors and hedge funds own 87.83% 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.