StockNews.com Initiates Coverage on HashiCorp (NASDAQ:HCP)

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a report released on Saturday. The brokerage set a “hold” rating on the stock.

A number of other equities research analysts have also commented on the company. Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. 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.com, the stock has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Trading Down 0.1 %

NASDAQ:HCP opened at $33.94 on Friday. The stock has a market cap of $6.89 billion, a P/E ratio of -45.25 and a beta of 1.25. The stock has a 50 day simple moving average of $33.82 and a 200 day simple moving average of $32.35. HashiCorp has a 1-year low of $18.91 and a 1-year high of $34.06.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The company had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter in the previous year, the firm earned ($0.34) EPS. HashiCorp’s revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts forecast that HashiCorp will post -0.48 EPS for the current year.

Insider Buying and Selling

In other news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total transaction of $1,214,991.36. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,436,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total transaction of $1,214,991.36. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,436,800. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Mcjannet sold 48,055 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the sale, the chief executive officer now owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 390,125 shares of company stock valued at $13,178,494 over the last ninety days. 22.49% of the stock is owned by insiders.

Institutional Trading of HashiCorp

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of HashiCorp by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock worth $253,484,000 after acquiring an additional 999,671 shares during the period. Renaissance Capital LLC lifted its position in HashiCorp by 3.0% during the first quarter. Renaissance Capital LLC now owns 63,964 shares of the company’s stock valued at $1,724,000 after purchasing an additional 1,857 shares during the period. Artemis Investment Management LLP lifted its position in HashiCorp by 416.0% during the first quarter. Artemis Investment Management LLP now owns 1,555,104 shares of the company’s stock valued at $41,891,000 after purchasing an additional 1,253,723 shares during the period. Diversified Trust Co acquired a new position in shares of HashiCorp in the first quarter worth about $416,000. Finally, Sycomore Asset Management raised its position in shares of HashiCorp by 52.2% in the first quarter. Sycomore Asset Management now owns 308,411 shares of the company’s stock worth $8,198,000 after acquiring an additional 105,772 shares during the period. Hedge funds and other institutional investors own 87.83% of the company’s stock.

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.