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

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a report published on Wednesday morning. The brokerage issued a hold rating on the stock.

HCP has been the subject of a number of other reports. JMP Securities restated a market perform rating on shares of HashiCorp in a research report on Monday. Citigroup began coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a neutral rating and a $35.00 price target for the company. Finally, Piper Sandler reiterated a neutral rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, HashiCorp presently has an average rating of Hold and an average price target of $32.08.

HashiCorp Trading Down 0.1 %

HashiCorp stock opened at $33.92 on Wednesday. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of -35.33 and a beta of 1.25. The firm has a 50 day simple moving average of $33.72 and a 200 day simple moving average of $31.57. HashiCorp has a 1-year low of $18.91 and a 1-year high of $34.06.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The company had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) earnings per share. On average, equities research analysts forecast that HashiCorp will post -0.59 EPS for the current year.

Insider Activity at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 17,397 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $33.47, for a total value of $582,277.59. Following the completion of the sale, the chief financial officer now owns 95,485 shares of the company’s stock, valued at $3,195,882.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $33.64, for a total value of $1,207,810.56. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,132,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Navam Welihinda sold 17,397 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $33.47, for a total value of $582,277.59. Following the transaction, the chief financial officer now directly owns 95,485 shares in the company, valued at $3,195,882.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 286,794 shares of company stock valued at $9,650,892. Corporate insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Several institutional investors have recently bought and sold shares of HCP. American Capital Advisory LLC purchased a new position in shares of HashiCorp in the second quarter valued at about $40,000. Advisors Asset Management Inc. grew its stake in shares of HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after purchasing an additional 961 shares during the last quarter. Covestor Ltd increased its holdings in HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares during the period. 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 valued at $119,000 after purchasing an additional 3,505 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of HashiCorp during the second quarter valued at approximately $208,000. 87.83% of the stock is currently 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.