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

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been given an average rating of “Hold” by the fourteen ratings firms that are covering the company, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $32.08.

Several research firms recently issued reports on HCP. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. StockNews.com raised shares of HashiCorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th.

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.58, for a total transaction of $1,205,622.74. Following the sale, the chief technology officer now directly owns 1,520,000 shares in the company, valued at $51,041,600. This trade represents a 2.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Mcjannet sold 47,526 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the transaction, the chief executive officer now owns 465,978 shares of the company’s stock, valued at $15,945,767.16. This represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,132 shares of company stock valued at $4,658,368 in the last ninety days. Insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Hedge funds have recently modified their holdings of the business. ING Groep NV increased its stake in HashiCorp by 851.2% in the third quarter. ING Groep NV now owns 1,671,200 shares of the company’s stock valued at $56,587,000 after purchasing an additional 1,495,500 shares during the period. Westchester Capital Management LLC raised its stake in HashiCorp by 60.5% during the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock valued at $108,363,000 after acquiring an additional 1,206,073 shares during the last quarter. Water Island Capital LLC acquired a new stake in HashiCorp during the 2nd quarter worth approximately $37,762,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of HashiCorp by 2,195.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 968,500 shares of the company’s stock valued at $32,629,000 after purchasing an additional 926,300 shares during the last quarter. Finally, Melqart Asset Management UK Ltd acquired a new position in shares of HashiCorp in the third quarter valued at approximately $28,224,000. 86.25% of the stock is currently owned by hedge funds and other institutional investors.

HashiCorp Stock Performance

HashiCorp stock opened at $34.24 on Tuesday. The company has a market capitalization of $7.00 billion, a PE ratio of -56.13 and a beta of 1.18. HashiCorp has a fifty-two week low of $21.50 and a fifty-two week high of $34.47. The firm has a 50 day moving average price of $34.07 and a 200 day moving average price of $33.90.

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.