HashiCorp (NASDAQ:HCP) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCP) from a hold rating to a buy rating in a research note issued to investors on Monday.

Separately, JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.08.

HashiCorp Trading Down 0.1 %

Shares of NASDAQ HCP opened at $34.28 on Monday. The firm’s 50-day moving average price is $33.97 and its 200-day moving average price is $33.83. HashiCorp has a 1-year low of $20.89 and a 1-year high of $34.46. The firm has a market capitalization of $7.01 billion, a P/E ratio of -56.20 and a beta of 1.18.

Insider Buying and Selling at HashiCorp

In other news, CTO Armon Dadgar sold 17,800 shares of HashiCorp stock in a transaction on Tuesday, December 24th. The stock was 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. The trade was a 36.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Mcjannet sold 47,526 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 208,940 shares of company stock worth $7,088,351 over the last three months. 22.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Longfellow Investment Management Co. LLC purchased a new position in shares of HashiCorp in the 3rd quarter worth about $38,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in HashiCorp in the third quarter worth approximately $51,000. Quest Partners LLC boosted its stake in HashiCorp by 9,736.1% in the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares in the last quarter. KBC Group NV grew its position in HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after acquiring an additional 731 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV purchased a new position in shares of HashiCorp during the third quarter worth approximately $205,000. 86.25% of the stock is currently 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.