StockNews.com Initiates Coverage on HashiCorp (NASDAQ:HCP)

StockNews.com began coverage on shares of HashiCorp (NASDAQ:HCP) in a research report issued on Tuesday. The brokerage set a “hold” rating on the stock.

A number of other research analysts also recently weighed in on the company. Citigroup assumed coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Finally, Piper Sandler restated a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a research note on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, HashiCorp presently has an average rating of “Hold” and a consensus price target of $32.08.

HashiCorp Price Performance

Shares of HCP stock opened at $33.83 on Tuesday. HashiCorp has a fifty-two week low of $19.05 and a fifty-two week high of $34.06. The stock’s 50-day moving average is $33.85 and its two-hundred day moving average is $33.41. The firm has a market cap of $6.86 billion, a P/E ratio of -45.11 and a beta of 1.24.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. During the same quarter last year, the firm earned ($0.34) earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, research analysts expect that HashiCorp will post -0.48 EPS for the current year.

Insider Activity

In other news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $33.66, for a total value of $468,412.56. Following the completion of the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at approximately $147,026.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total value of $169,350.00. Following the completion of the sale, the chief financial officer now owns 88,322 shares in the company, valued at approximately $2,991,466.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $33.66, for a total transaction of $468,412.56. Following the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at $147,026.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 349,221 shares of company stock worth $11,812,159. Corporate insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Several hedge funds have recently added to or reduced their stakes in the company. Xponance Inc. raised its position in shares of HashiCorp by 3.1% during the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock valued at $346,000 after acquiring an additional 305 shares during the last quarter. Comerica Bank increased its holdings in HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after purchasing an additional 374 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares during the period. Arizona State Retirement System boosted its holdings in HashiCorp by 3.5% during the second quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock worth $1,075,000 after buying an additional 1,065 shares during the last quarter. Finally, American Capital Advisory LLC bought a new position in HashiCorp during the second quarter worth about $40,000. Institutional investors own 87.83% 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.