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

Analysts at StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued on Monday. The firm set a “hold” rating on the stock.

HCP has been the subject of a number of other reports. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Citigroup began coverage on shares of HashiCorp in a research 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 set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, HashiCorp currently has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Performance

Shares of NASDAQ HCP opened at $34.08 on Monday. HashiCorp has a twelve month low of $19.26 and a twelve month high of $34.21. The firm has a 50-day moving average of $33.87 and a two-hundred day moving average of $33.61. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of -45.41 and a beta of 1.24.

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

Insiders Place Their Bets

In related news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the transaction, the chief marketing officer now owns 4,368 shares in the company, valued at approximately $147,638.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the sale, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at approximately $147,638.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Mcjannet sold 48,055 shares of the 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 $14,196,929.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 371,209 shares of company stock valued at $12,559,456 in the last three months. Insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank raised its position in shares of HashiCorp by 11.8% in the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after purchasing an additional 23,400 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in HashiCorp during the 1st quarter worth $1,070,000. Bessemer Group Inc. bought a new stake in HashiCorp during the first quarter valued at about $649,000. Vanguard Group Inc. grew its position in shares of HashiCorp by 14.0% in the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after purchasing an additional 1,501,953 shares during the last quarter. Finally, New York Life Investment Management LLC bought a new position in shares of HashiCorp in the second quarter worth about $11,407,000. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.