Brokerages Set HashiCorp, Inc. (NASDAQ:HCP) PT at $32.08

Shares of HashiCorp, Inc. (NASDAQ:HCP) have earned an average recommendation of “Hold” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $32.08.

Several equities research analysts recently weighed in on the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com started coverage on HashiCorp in a report on Sunday, December 29th. They set a “hold” rating on the stock.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 17,800 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total transaction of $609,294.00. Following the sale, the chief technology officer now owns 31,348 shares of the company’s stock, valued at approximately $1,073,042.04. This represents a 36.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the transaction, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,940 shares of company stock valued at $7,088,351. 22.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HashiCorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in shares of HashiCorp by 41.9% during the 3rd quarter. Principal Financial Group Inc. now owns 11,516 shares of the company’s stock worth $390,000 after purchasing an additional 3,399 shares in the last quarter. Neo Ivy Capital Management acquired a new position in HashiCorp during the 3rd quarter worth approximately $2,400,000. Geode Capital Management LLC boosted its holdings in HashiCorp by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after acquiring an additional 385,118 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in HashiCorp by 39.7% in the third quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock valued at $1,735,000 after acquiring an additional 14,555 shares during the period. Finally, K2 Principal Fund L.P. increased its holdings in shares of HashiCorp by 34.0% during the third quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company’s stock valued at $3,994,000 after acquiring an additional 29,901 shares in the last quarter. 86.25% of the stock is currently owned by institutional investors.

HashiCorp Price Performance

Shares of NASDAQ:HCP opened at $34.38 on Friday. The firm has a 50 day simple moving average of $33.92 and a 200 day simple moving average of $33.79. The company has a market cap of $7.03 billion, a price-to-earnings ratio of -56.36 and a beta of 1.18. HashiCorp has a one year low of $20.89 and a one year high of $34.39.

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.