JMP Securities Reiterates Market Perform Rating for HashiCorp (NASDAQ:HCP)

JMP Securities reiterated their market perform rating on shares of HashiCorp (NASDAQ:HCP) in a research report sent to investors on Monday morning,Benzinga reports.

Other equities analysts also recently issued research reports about the company. Piper Sandler reiterated a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. StockNews.com began coverage on HashiCorp in a research report on Wednesday, December 11th. They set a “hold” rating on the stock. Finally, Citigroup started coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, HashiCorp has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Performance

HCP opened at $33.84 on Monday. The company has a fifty day moving average of $33.81 and a two-hundred day moving average of $33.74. HashiCorp has a fifty-two week low of $20.89 and a fifty-two week high of $34.21. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of -55.48 and a beta of 1.21.

Insider Activity

In other HashiCorp news, CFO Navam Welihinda sold 18,167 shares of HashiCorp stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $614,771.28. Following the completion of the sale, the chief financial officer now directly owns 105,883 shares in the company, valued at $3,583,080.72. This trade represents a 14.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Marc Holmes sold 11,854 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $401,139.36. Following the completion of the sale, the chief marketing officer now directly owns 22,536 shares in the company, valued at $762,618.24. This trade represents a 34.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 352,291 shares of company stock valued at $11,912,497. 22.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HashiCorp

A number of institutional investors have recently modified their holdings of HCP. New York Life Investment Management LLC purchased a new stake in shares of HashiCorp during the second quarter worth $11,407,000. K2 Principal Fund L.P. acquired a new position in HashiCorp during the 2nd quarter worth $2,966,000. Alpine Associates Management Inc. boosted its stake in shares of HashiCorp by 48.7% in the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after buying an additional 701,350 shares during the period. Versor Investments LP grew its position in shares of HashiCorp by 518.9% during the third quarter. Versor Investments LP now owns 157,725 shares of the company’s stock worth $5,341,000 after buying an additional 132,239 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of HashiCorp during the second quarter worth about $857,000. 86.25% of the stock is 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.