HashiCorp (NASDAQ:HCP) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research report report published on Sunday morning. The brokerage issued a hold rating on the stock.

Several other analysts have also recently weighed in on the stock. Citigroup began coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They issued a neutral rating and a $35.00 price target for the company. JMP Securities reissued a market perform rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, Piper Sandler reaffirmed a neutral rating and issued a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $32.08.

HashiCorp Price Performance

HCP stock opened at $33.93 on Friday. HashiCorp has a 1 year low of $18.91 and a 1 year high of $34.06. The firm has a market capitalization of $6.82 billion, a PE ratio of -35.34 and a beta of 1.25. The business has a 50 day simple moving average of $33.80 and a 200-day simple moving average of $32.23.

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

Insider Activity at HashiCorp

In other news, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the sale, the chief executive officer now owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total value of $1,202,784.00. Following the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $50,920,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the sale, the chief executive officer now owns 419,531 shares in the company, valued at $14,196,929.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 404,041 shares of company stock worth $13,644,123. Corporate insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Swiss National Bank grew its holdings in shares of HashiCorp by 11.8% during the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $5,972,000 after purchasing an additional 23,400 shares during the last quarter. Contour Asset Management LLC purchased a new position in HashiCorp during the 4th quarter worth $21,217,000. GGV Capital LLC increased its stake in HashiCorp by 4.6% in the fourth quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock valued at $15,579,000 after purchasing an additional 29,064 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of HashiCorp in the first quarter valued at about $1,070,000. Finally, University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of HashiCorp during the fourth quarter worth about $2,359,000. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.