StockNews.com Upgrades HashiCorp (NASDAQ:HCP) to “Buy”

HashiCorp (NASDAQ:HCP) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Separately, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Performance

Shares of HCP opened at $34.37 on Monday. The firm has a market cap of $7.03 billion, a P/E ratio of -56.34 and a beta of 1.18. HashiCorp has a 52 week low of $20.89 and a 52 week high of $34.46. The firm’s 50-day simple moving average is $33.98 and its 200 day simple moving average is $33.84.

Insider Activity at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 47,526 shares of the stock in a transaction dated 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 in the company, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Armon Dadgar sold 17,800 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $34.23, for a total value of $609,294.00. Following the sale, the chief technology officer now owns 31,348 shares in the company, valued at approximately $1,073,042.04. This trade represents a 36.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,940 shares of company stock valued at $7,088,351 over the last quarter. 22.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On HashiCorp

Several hedge funds have recently added to or reduced their stakes in HCP. Longfellow Investment Management Co. LLC bought a new stake in shares of HashiCorp in the third quarter worth $38,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HashiCorp in the 3rd quarter valued at about $51,000. Quest Partners LLC increased its stake in shares of HashiCorp by 9,736.1% in the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares during the period. KBC Group NV raised its position in shares of HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after acquiring an additional 731 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV acquired a new position in shares of HashiCorp in the third quarter worth approximately $205,000. 86.25% of the stock is currently owned by institutional investors and hedge funds.

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.