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

HashiCorp, Inc. (NASDAQ:HCP) has received an average rating of “Hold” from the fourteen research firms that are presently covering the firm, MarketBeat reports. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $32.08.

A number of brokerages have recently issued reports on HCP. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com initiated coverage on shares of HashiCorp in a research report on Sunday, December 29th. They set a “hold” rating on the stock.

HashiCorp Price Performance

HCP stock opened at $34.17 on Friday. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of -56.02 and a beta of 1.21. The company has a fifty day moving average price of $33.90 and a two-hundred day moving average price of $33.79. HashiCorp has a one year low of $20.89 and a one year high of $34.33.

Insider Transactions at HashiCorp

In related news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,467,200. This trade represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,940 shares of company stock worth $7,088,351 over the last ninety days. 22.49% of the stock is owned by insiders.

Institutional Investors Weigh In On HashiCorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in HashiCorp by 42.3% in the second quarter. Bank of New York Mellon Corp now owns 675,550 shares of the company’s stock valued at $22,759,000 after acquiring an additional 200,837 shares during the period. Maryland State Retirement & Pension System acquired a new stake in HashiCorp in the 2nd quarter valued at $247,000. Rhumbline Advisers increased its stake in HashiCorp by 8.6% during the 2nd quarter. Rhumbline Advisers now owns 116,947 shares of the company’s stock valued at $3,940,000 after purchasing an additional 9,296 shares in the last quarter. Victory Capital Management Inc. raised its holdings in HashiCorp by 32.8% during the second quarter. Victory Capital Management Inc. now owns 18,217 shares of the company’s stock worth $614,000 after buying an additional 4,504 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of HashiCorp by 3.5% in the second quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock valued at $1,075,000 after buying an additional 1,065 shares in the last quarter. 86.25% of the stock is owned by institutional investors.

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.