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

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research report sent to investors on Monday. The firm issued a hold rating on the stock.

Several other equities research analysts have also weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Citigroup started coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price for the company. Finally, Piper Sandler reissued a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Trading Down 0.2 %

HCP opened at $34.00 on Monday. The stock’s 50 day simple moving average is $33.87 and its 200-day simple moving average is $33.62. The stock has a market cap of $6.90 billion, a PE ratio of -45.33 and a beta of 1.24. HashiCorp has a 1 year low of $19.26 and a 1 year high of $34.21.

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

Insiders Place Their Bets

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,467,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,467,200. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Mcjannet sold 48,055 shares of HashiCorp stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the transaction, the chief executive officer now directly owns 419,531 shares in the company, valued at approximately $14,196,929.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 371,209 shares of company stock worth $12,559,456. Company insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Longfellow Investment Management Co. LLC bought a new position in shares of HashiCorp during the 3rd quarter worth approximately $38,000. American Capital Advisory LLC bought a new position in HashiCorp in the second quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HashiCorp in the 3rd quarter valued at $51,000. Advisors Asset Management Inc. increased its stake in 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 buying an additional 961 shares during the last quarter. Finally, Covestor Ltd lifted its position in HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after buying an additional 3,480 shares in 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.