HashiCorp (NASDAQ:HCP) Now Covered by StockNews.com

Analysts at StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a report released on Wednesday. The firm set a “hold” rating on the stock.

Several other research analysts have also weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Citigroup began coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. Finally, Piper Sandler reiterated a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.08.

HashiCorp Stock Performance

Shares of HCP stock opened at $33.62 on Wednesday. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of -55.11 and a beta of 1.21. HashiCorp has a one year low of $20.42 and a one year high of $34.21. The company has a 50 day moving average price of $33.82 and a 200 day moving average price of $33.74.

Insider Transactions at HashiCorp

In related news, CTO Armon Dadgar sold 35,903 shares of the stock in a transaction dated 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 completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,528,000. This represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Marc Holmes sold 13,782 shares of HashiCorp stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total value of $465,969.42. Following the sale, the chief marketing officer now owns 8,754 shares in the company, valued at $295,972.74. This represents a 61.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 352,291 shares of company stock valued at $11,912,497. Corporate insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Several institutional investors have recently added to or reduced their stakes in the stock. Longfellow Investment Management Co. LLC acquired a new stake in HashiCorp during the third quarter valued at approximately $38,000. American Capital Advisory LLC acquired a new stake in shares of HashiCorp during the 2nd quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HashiCorp during the third quarter worth $51,000. Quest Partners LLC boosted its holdings in HashiCorp by 9,736.1% in the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after purchasing an additional 3,505 shares during the period. Finally, KBC Group NV increased its stake in HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after purchasing an additional 731 shares during the last quarter. 86.25% of the stock is 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.