HashiCorp (NASDAQ:HCP) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a note issued to investors on Monday. The brokerage set a “hold” rating on the stock.

HCP has been the topic of a number of other research reports. Bank of America increased their price objective on shares of HashiCorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Piper Sandler increased their price objective on shares of HashiCorp from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Thursday, June 6th. Truist Financial reiterated a “hold” rating and issued a $35.00 price objective (up previously from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. Finally, BTIG Research lowered shares of HashiCorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 24th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.17.

HashiCorp Trading Up 0.1 %

NASDAQ HCP opened at $33.78 on Monday. The company has a fifty day simple moving average of $33.60 and a two-hundred day simple moving average of $30.02. The stock has a market cap of $6.79 billion, a P/E ratio of -35.19 and a beta of 1.25. HashiCorp has a 12-month low of $18.91 and a 12-month high of $34.05.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. The firm had revenue of $160.58 million for the quarter, compared to analyst estimates of $153.39 million. HashiCorp had a negative net margin of 31.13% and a negative return on equity of 14.27%. As a group, sell-side analysts forecast that HashiCorp will post -0.8 earnings per share for the current year.

Insider Activity

In other news, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $33.34, for a total value of $166,700.00. Following the sale, the chief financial officer now owns 93,925 shares in the company, valued at $3,131,459.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $33.34, for a total value of $166,700.00. Following the transaction, the chief financial officer now directly owns 93,925 shares of the company’s stock, valued at $3,131,459.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $33.65, for a total transaction of $1,208,169.60. Following the completion of the transaction, the chief technology officer now directly owns 1,517,548 shares in the company, valued at $51,065,490.20. The disclosure for this sale can be found here. Insiders have sold a total of 406,736 shares of company stock worth $13,612,236 over the last 90 days. 22.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HashiCorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of HashiCorp by 11.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock worth $14,821,000 after buying an additional 63,879 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in HashiCorp by 10.4% during the fourth quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock worth $63,775,000 after purchasing an additional 254,720 shares during the period. Swiss National Bank raised its stake in HashiCorp by 11.8% during the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $5,972,000 after purchasing an additional 23,400 shares during the period. Contour Asset Management LLC purchased a new position in HashiCorp during the fourth quarter worth about $21,217,000. Finally, GGV Capital LLC raised its stake in HashiCorp by 4.6% during the fourth quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock worth $15,579,000 after purchasing an additional 29,064 shares during the period. 87.83% of the stock is owned by hedge funds and other institutional investors.

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.