HashiCorp, Inc. (NASDAQ:HCP) Given Average Recommendation of “Hold” by Brokerages

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been given an average rating of “Hold” by the fourteen brokerages that are presently covering the firm, MarketBeat 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 issued ratings on the stock in the last year is $32.08.

Several analysts recently commented on the company. StockNews.com assumed coverage on HashiCorp in a report on Thursday. They issued a “hold” rating on the stock. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, Citigroup began coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock.

HashiCorp Price Performance

Shares of HCP stock opened at $33.67 on Friday. The business’s 50 day simple moving average is $33.85 and its 200 day simple moving average is $32.86. HashiCorp has a one year low of $18.91 and a one year high of $34.06. The stock has a market capitalization of $6.77 billion, a PE ratio of -35.07 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its 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 business had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same period in the prior year, the business posted ($0.34) earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. As a group, research analysts expect that HashiCorp will post -0.48 earnings per share for the current year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the transaction, the chief executive officer now directly owns 419,531 shares in the company, valued at approximately $14,196,929.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David Mcjannet sold 48,055 shares of HashiCorp stock in a transaction on Friday, September 20th. The stock was 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 directly owns 419,531 shares in the company, valued at $14,196,929.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total value of $169,350.00. Following the sale, the chief financial officer now owns 88,322 shares in the company, valued at $2,991,466.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 385,125 shares of company stock worth $13,022,483. Corporate insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of HashiCorp by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after purchasing an additional 1,501,953 shares during the period. Whale Rock Capital Management LLC lifted its holdings in HashiCorp by 293.2% during the first quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock valued at $123,046,000 after purchasing an additional 3,404,557 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its position in HashiCorp by 53.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after purchasing an additional 1,161,600 shares during the period. Pentwater Capital Management LP purchased a new position in shares of HashiCorp in the second quarter worth about $91,654,000. Finally, Magnetar Financial LLC bought a new stake in shares of HashiCorp in the second quarter valued at approximately $71,490,000. 87.83% of the stock is currently owned by 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.