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

HashiCorp, Inc. (NASDAQ:HCP) has received a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the stock, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.08.

Several analysts recently commented on the company. Citigroup started coverage on HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price on the stock. StockNews.com initiated coverage on shares of HashiCorp in a report on Friday, October 18th. They set a “hold” rating for the company. Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. Finally, JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th.

HashiCorp Trading Down 0.1 %

HCP opened at $33.81 on Friday. HashiCorp has a 12-month low of $18.91 and a 12-month high of $34.06. The firm has a 50 day moving average of $33.85 and a two-hundred day moving average of $32.85. The firm has a market capitalization of $6.80 billion, a PE ratio of -35.22 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.34) earnings per share. As a group, analysts predict that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO David Mcjannet sold 48,055 shares of HashiCorp stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the sale, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at $14,196,929.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $1,626,181.20. Following the completion of the sale, the chief executive officer now directly owns 419,531 shares in the company, valued at $14,196,929.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $33.71, for a total transaction of $1,210,323.84. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,239,200. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 349,221 shares of company stock worth $11,808,210. Insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

A number of large investors have recently made changes to their positions in the stock. American Capital Advisory LLC acquired a new stake in HashiCorp during the second quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HashiCorp during the 3rd quarter worth approximately $51,000. Advisors Asset Management Inc. increased its holdings in shares of HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after buying an additional 961 shares during the last quarter. Covestor Ltd raised its position in shares of HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after buying an additional 3,480 shares during the period. Finally, Quest Partners LLC lifted 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 valued at $119,000 after acquiring an additional 3,505 shares during the last quarter. 87.83% 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.