HashiCorp, Inc. (NASDAQ:HCP) Receives $31.17 Consensus PT from Analysts

Shares of HashiCorp, Inc. (NASDAQ:HCP) have earned a consensus rating of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $31.17.

Several equities research analysts have recently issued reports on the stock. William Blair cut shares of HashiCorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 24th. StockNews.com assumed coverage on shares of HashiCorp in a research report on Sunday. They set a “hold” rating for the company. Piper Sandler lifted their price objective on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Truist Financial reiterated a “hold” rating and set a $35.00 price target (up from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of HashiCorp in a research note on Thursday, April 25th.

HashiCorp Stock Performance

Shares of HCP stock opened at $33.73 on Friday. The firm’s 50 day moving average price is $33.42 and its 200-day moving average price is $28.03. HashiCorp has a one year low of $18.91 and a one year high of $34.05. The firm has a market cap of $6.78 billion, a P/E ratio of -35.14 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.02. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. The company had revenue of $160.58 million during the quarter, compared to analysts’ expectations of $153.39 million. As a group, research analysts predict that HashiCorp will post -0.8 EPS for the current fiscal year.

Insider Transactions at HashiCorp

In other news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total value of $1,598,309.30. Following the completion of the sale, the chief executive officer now owns 373,330 shares of the company’s stock, valued at $12,416,955.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total transaction of $1,598,309.30. Following the transaction, the chief executive officer now directly owns 373,330 shares in the company, valued at approximately $12,416,955.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $24.31, for a total transaction of $872,826.24. Following the sale, the chief technology officer now directly owns 1,625,260 shares in the company, valued at $39,510,070.60. The disclosure for this sale can be found here. Insiders sold 395,170 shares of company stock valued at $12,824,841 over the last 90 days. Corporate insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

A number of large investors have recently modified their holdings of HCP. Wellington Management Group LLP increased its holdings in shares of HashiCorp by 6.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,983,301 shares of the company’s stock worth $45,279,000 after acquiring an additional 117,625 shares during the period. Vanguard Group Inc. increased its stake in HashiCorp by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after buying an additional 455,179 shares during the period. Renaissance Capital LLC increased its stake in HashiCorp by 26.6% during the 4th quarter. Renaissance Capital LLC now owns 62,107 shares of the company’s stock valued at $1,468,000 after buying an additional 13,067 shares during the period. Artemis Investment Management LLP acquired a new position in HashiCorp during the 4th quarter valued at about $7,124,000. Finally, Assenagon Asset Management S.A. acquired a new position in HashiCorp during the 4th quarter valued at about $381,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

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.