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

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

A number of other brokerages have also recently commented on HCP. Citigroup began coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. 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 currently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Price Performance

NASDAQ:HCP opened at $34.19 on Friday. The company has a fifty day moving average price of $33.87 and a 200 day moving average price of $33.77. The stock has a market cap of $6.99 billion, a P/E ratio of -56.05 and a beta of 1.21. HashiCorp has a one year low of $20.89 and a one year high of $34.33.

Insiders Place Their Bets

In other news, CEO David Mcjannet sold 47,526 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at $15,945,767.16. The trade was a 9.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $33.82, for a total transaction of $1,214,273.28. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,406,400. This trade represents a 2.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 244,844 shares of company stock worth $8,303,342 over the last ninety days. 22.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HashiCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in HCP. Longfellow Investment Management Co. LLC bought a new stake in shares of HashiCorp in the 3rd quarter valued at about $38,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HashiCorp in the 3rd quarter valued at about $51,000. Quest Partners LLC boosted its holdings in shares of HashiCorp by 9,736.1% during 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. KBC Group NV grew its position in shares of HashiCorp by 25.8% in 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. Finally, Townsend Asset Management Corp NC ADV bought a new position in HashiCorp during the 3rd quarter worth $205,000. 86.25% of the stock is owned by institutional investors.

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.