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

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been assigned an average rating of “Hold” from the fourteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $32.08.

Several research analysts have issued reports on the company. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a report on Monday, January 13th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th.

Insider Activity at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 47,526 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Armon Dadgar sold 35,903 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $33.90, for a total value of $1,217,111.70. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,528,000. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 173,036 shares of company stock valued at $5,874,078. 22.49% of the stock is owned by insiders.

Institutional Trading of HashiCorp

Institutional investors have recently modified their holdings of the business. State Street Corp raised its holdings in HashiCorp by 14.5% during the 3rd quarter. State Street Corp now owns 2,239,850 shares of the company’s stock valued at $75,841,000 after acquiring an additional 282,965 shares during the period. Syquant Capital Sas bought a new stake in shares of HashiCorp during the 4th quarter valued at $18,554,000. Geode Capital Management LLC lifted its holdings in HashiCorp by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after purchasing an additional 385,118 shares in the last quarter. Alpine Associates Management Inc. boosted its stake in HashiCorp by 48.7% in the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after purchasing an additional 701,350 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in HashiCorp by 41.9% during the 3rd quarter. Principal Financial Group Inc. now owns 11,516 shares of the company’s stock valued at $390,000 after buying an additional 3,399 shares in the last quarter. 86.25% of the stock is currently owned by hedge funds and other institutional investors.

HashiCorp Trading Down 0.1 %

Shares of NASDAQ HCP opened at $34.25 on Tuesday. The firm has a market capitalization of $7.00 billion, a P/E ratio of -56.15 and a beta of 1.18. The firm’s 50-day moving average price is $34.06 and its 200-day moving average price is $33.89. HashiCorp has a 1-year low of $21.50 and a 1-year high of $34.47.

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.