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

StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a report issued on Wednesday. The firm issued a hold rating on the stock.

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

HashiCorp Stock Performance

Shares of HCP opened at $33.78 on Wednesday. HashiCorp has a 1 year low of $20.89 and a 1 year high of $34.21. The stock has a market capitalization of $6.85 billion, a PE ratio of -55.38 and a beta of 1.21. The stock has a 50-day simple moving average of $33.82 and a 200-day simple moving average of $33.74.

Insider Activity at HashiCorp

In other news, CFO Navam Welihinda sold 18,167 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $614,771.28. Following the completion of the sale, the chief financial officer now directly owns 105,883 shares of the company’s stock, valued at approximately $3,583,080.72. This represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Marc Holmes sold 11,854 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $401,139.36. Following the transaction, the chief marketing officer now directly owns 22,536 shares in the company, valued at approximately $762,618.24. This represents a 34.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 352,291 shares of company stock valued at $11,912,497 in the last three months. 22.49% of the stock is currently owned by company insiders.

Institutional Trading of HashiCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in HCP. Longfellow Investment Management Co. LLC acquired a new position in shares of HashiCorp in the third quarter valued at approximately $38,000. American Capital Advisory LLC purchased a new position in HashiCorp in the 2nd quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HashiCorp in the 3rd quarter valued at $51,000. Quest Partners LLC raised its position in HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after acquiring an additional 731 shares during the period. 86.25% of the stock is owned by hedge funds and other 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.