Brokerages Set HashiCorp, Inc. (NASDAQ:HCP) Price Target at $34.40

Shares of HashiCorp, Inc. (NASDAQ:HCP) have received an average recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $34.40.

A number of research firms have weighed in on HCP. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. StockNews.com raised shares of HashiCorp from a “hold” rating to a “buy” rating in a report on Monday, January 13th.

Insider Buying and Selling at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 17,800 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $34.23, for a total value of $609,294.00. Following the transaction, the chief technology officer now directly owns 31,348 shares in the company, valued at $1,073,042.04. This represents a 36.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in HashiCorp by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 16,350,402 shares of the company’s stock valued at $559,347,000 after buying an additional 611,447 shares during the last quarter. Norges Bank purchased a new position in HashiCorp in the 4th quarter valued at approximately $161,190,000. Westchester Capital Management LLC increased its stake in HashiCorp by 0.5% in the 4th quarter. Westchester Capital Management LLC now owns 3,217,643 shares of the company’s stock valued at $110,076,000 after purchasing an additional 17,321 shares in the last quarter. Geode Capital Management LLC increased its stake in HashiCorp by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 2,585,092 shares of the company’s stock valued at $88,465,000 after purchasing an additional 63,090 shares in the last quarter. Finally, Alpine Associates Management Inc. increased its stake in HashiCorp by 11.8% in the 4th quarter. Alpine Associates Management Inc. now owns 2,394,854 shares of the company’s stock valued at $81,928,000 after purchasing an additional 252,700 shares in the last quarter. 86.25% of the stock is currently owned by hedge funds and other institutional investors.

HashiCorp Stock Performance

NASDAQ:HCP opened at $34.78 on Wednesday. The company has a fifty day moving average of $34.48 and a two-hundred day moving average of $34.11. The stock has a market capitalization of $7.11 billion, a PE ratio of -57.02 and a beta of 1.18. HashiCorp has a fifty-two week low of $23.00 and a fifty-two week high of $34.85.

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.