HashiCorp (NASDAQ:HCP) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a report published on Sunday morning. The brokerage issued a hold rating on the stock.

HCP has been the subject of several other reports. Citigroup assumed coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target for the company. Piper Sandler reiterated a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Finally, JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.08.

HashiCorp Stock Performance

Shares of HashiCorp stock opened at $33.74 on Friday. HashiCorp has a one year low of $19.26 and a one year high of $34.21. The company has a market cap of $6.85 billion, a P/E ratio of -44.99 and a beta of 1.24. The firm has a fifty day moving average of $33.88 and a two-hundred day moving average of $33.64.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $165.14 million for the quarter, compared to analyst estimates 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 was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.34) earnings per share. As a group, equities analysts predict that HashiCorp will post -0.48 earnings per share for the current year.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $33.87, for a total transaction of $169,350.00. Following the sale, the chief financial officer now owns 88,322 shares in the company, valued at approximately $2,991,466.14. This represents a 5.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the transaction, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at $14,196,929.04. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 371,209 shares of company stock worth $12,559,456. 22.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC purchased a new stake in shares of HashiCorp during the third quarter worth about $38,000. American Capital Advisory LLC acquired a new stake in HashiCorp during the second quarter worth approximately $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in HashiCorp in the 3rd quarter worth approximately $51,000. Advisors Asset Management Inc. raised its holdings 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 acquiring an additional 961 shares during the last quarter. Finally, Covestor Ltd raised its holdings in HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after acquiring an additional 3,480 shares during the last quarter. Institutional investors and hedge funds own 87.83% of the company’s stock.

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.