HashiCorp (NASDAQ:HCP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a research report issued on Saturday. The firm set a “hold” rating on the stock.

Several other analysts have also recently issued reports on the company. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Citigroup began coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price on the stock. Finally, Piper Sandler restated a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a research note on Friday, August 30th. Twelve investment 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, the company currently has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Up 0.2 %

HCP stock opened at $33.92 on Friday. The firm’s fifty day simple moving average is $33.87 and its two-hundred day simple moving average is $33.68. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of -45.23 and a beta of 1.24. HashiCorp has a twelve month low of $19.26 and a twelve month high of $34.21.

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

Insider Activity at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total value of $1,214,632.32. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,421,600. This represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Marc Holmes sold 11,854 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $401,139.36. Following the completion of the transaction, the chief marketing officer now owns 22,536 shares in the company, valued at approximately $762,618.24. This represents a 34.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 330,305 shares of company stock worth $11,174,756 in the last 90 days. Corporate insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Longfellow Investment Management Co. LLC purchased a new position in shares of HashiCorp in the 3rd quarter valued at $38,000. American Capital Advisory LLC purchased a new position in shares of HashiCorp during the second quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HashiCorp during the third quarter worth about $51,000. Advisors Asset Management Inc. boosted its position in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after purchasing an additional 961 shares during the period. Finally, Quest Partners LLC grew its stake in HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares during the last quarter. 87.83% of the stock is 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.