HashiCorp (NASDAQ:HCP) Receives Market Perform Rating from JMP Securities

HashiCorp (NASDAQ:HCP)‘s stock had its “market perform” rating reiterated by equities researchers at JMP Securities in a report released on Monday,Benzinga reports.

Several other equities analysts have also commented on HCP. Citigroup started coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. StockNews.com started coverage on shares of HashiCorp in a report on Wednesday, December 11th. They issued a “hold” rating for the company. Finally, Piper Sandler reissued a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research note on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Performance

NASDAQ HCP opened at $33.90 on Monday. The company has a market capitalization of $6.93 billion, a P/E ratio of -55.48 and a beta of 1.21. HashiCorp has a one year low of $20.89 and a one year high of $34.21. The stock has a 50 day moving average price of $33.81 and a 200-day moving average price of $33.74.

Insider Buying and Selling at HashiCorp

In other news, 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 sale, the chief executive officer now owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. The trade was a 10.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 35,903 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.58, for a total value of $1,205,622.74. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,041,600. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 352,291 shares of company stock worth $11,912,497 over the last 90 days. Company insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HCP. Longfellow Investment Management Co. LLC purchased a new stake in shares of HashiCorp in the 3rd quarter worth $38,000. American Capital Advisory LLC purchased a new position in shares of HashiCorp during the second quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HashiCorp in the third quarter valued at about $51,000. Quest Partners LLC lifted its stake 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 acquiring an additional 3,505 shares during the period. Finally, KBC Group NV grew its holdings in HashiCorp by 25.8% during the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after acquiring an additional 731 shares in the last quarter. 86.25% of the stock is currently owned by hedge funds and other institutional investors.

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.