HashiCorp, Inc. (NASDAQ:HCP) Receives $32.08 Average Price Target from Brokerages

HashiCorp, Inc. (NASDAQ:HCP) has been assigned a consensus rating of “Hold” from the fourteen research firms that are covering the firm, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $32.08.

Several research analysts recently issued reports on the stock. Citigroup assumed 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. StockNews.com initiated coverage on shares of HashiCorp in a research note on Wednesday. They set a “hold” rating for the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th.

Insider Activity

In other HashiCorp news, CTO Armon Dadgar sold 22,779 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $770,841.36. Following the completion of the sale, the chief technology officer now directly owns 44,934 shares in the company, valued at $1,520,566.56. The trade was a 33.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Navam Welihinda sold 18,167 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $614,771.28. Following the completion of the transaction, the chief financial officer now directly owns 105,883 shares in the company, valued at approximately $3,583,080.72. The trade was a 14.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 352,291 shares of company stock valued at $11,912,497 in the last 90 days. 22.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Westchester Capital Management LLC raised its position in shares of HashiCorp by 60.5% during the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock valued at $108,363,000 after purchasing an additional 1,206,073 shares during the period. Pentwater Capital Management LP bought a new stake in HashiCorp during the second quarter valued at about $91,654,000. Geode Capital Management LLC raised its holdings in HashiCorp by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after acquiring an additional 385,118 shares during the period. State Street Corp boosted its stake in shares of HashiCorp by 14.5% in the third quarter. State Street Corp now owns 2,239,850 shares of the company’s stock worth $75,841,000 after acquiring an additional 282,965 shares during the period. Finally, Alpine Associates Management Inc. boosted its stake in shares of HashiCorp by 48.7% in the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after acquiring an additional 701,350 shares during the period. 86.25% of the stock is owned by hedge funds and other institutional investors.

HashiCorp Stock Up 0.4 %

NASDAQ HCP opened at $33.76 on Monday. The firm has a market capitalization of $6.85 billion, a PE ratio of -55.34 and a beta of 1.21. The stock’s 50 day moving average is $33.82 and its 200 day moving average is $33.74. HashiCorp has a twelve month low of $20.42 and a twelve month high of $34.21.

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.