HashiCorp, Inc. (NASDAQ:HCP) Given Consensus Rating of “Hold” by Analysts

HashiCorp, Inc. (NASDAQ:HCP) has received an average rating of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $32.08.

A number of research firms have issued reports on HCP. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com initiated coverage on shares of HashiCorp in a research report on Sunday, December 29th. They issued a “hold” rating for the company.

HashiCorp Stock Down 0.1 %

Shares of NASDAQ:HCP opened at $34.17 on Friday. The business’s 50 day moving average is $33.90 and its 200 day moving average is $33.79. HashiCorp has a 12-month low of $20.89 and a 12-month high of $34.33. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of -56.02 and a beta of 1.21.

Insiders Place Their Bets

In other HashiCorp news, CTO Armon Dadgar sold 17,800 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the sale, the chief technology officer now owns 31,348 shares of the company’s stock, valued at $1,073,042.04. The trade was a 36.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Mcjannet sold 47,526 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the transaction, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at $15,945,767.16. The trade was a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,940 shares of company stock valued at $7,088,351 over the last ninety days. 22.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Magnetar Financial LLC purchased a new position in shares of HashiCorp during the 2nd quarter valued at $71,490,000. ING Groep NV grew its position in HashiCorp by 851.2% during the third quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock worth $56,587,000 after buying an additional 1,495,500 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in HashiCorp during the second quarter worth about $48,541,000. Westchester Capital Management LLC increased its stake in HashiCorp by 60.5% in the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock worth $108,363,000 after acquiring an additional 1,206,073 shares during the last quarter. Finally, Water Island Capital LLC purchased a new stake in shares of HashiCorp in the 2nd quarter valued at about $37,762,000. Hedge funds and other institutional investors own 86.25% 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.