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

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

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

HashiCorp Trading Up 0.1 %

Shares of HashiCorp stock opened at $33.62 on Friday. The stock has a 50-day moving average price of $33.85 and a 200 day moving average price of $33.70. The company has a market cap of $6.82 billion, a P/E ratio of -44.83 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 announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.34) EPS. On average, equities analysts forecast that HashiCorp will post -0.48 earnings per share for the current fiscal year.

Insider Activity

In other HashiCorp news, CTO Armon Dadgar sold 35,903 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $33.90, for a total value of $1,217,111.70. Following the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,528,000. This trade represents a 2.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $1,626,181.20. Following the completion of the sale, the chief executive officer now directly owns 419,531 shares in the company, valued at $14,196,929.04. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,208 shares of company stock valued at $12,391,868. Insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCP. Jacobs Levy Equity Management Inc. bought a new stake in shares of HashiCorp in the 1st quarter worth approximately $1,070,000. New York Life Investment Management LLC bought a new stake in shares of HashiCorp in the 2nd quarter worth approximately $11,407,000. K2 Principal Fund L.P. bought a new stake in shares of HashiCorp in the 2nd quarter worth approximately $2,966,000. Alpine Associates Management Inc. lifted its position in shares of HashiCorp by 48.7% in the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after acquiring an additional 701,350 shares during the period. Finally, Versor Investments LP lifted its position in shares of HashiCorp by 518.9% in the 3rd quarter. Versor Investments LP now owns 157,725 shares of the company’s stock worth $5,341,000 after acquiring an additional 132,239 shares during the period. 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.