HashiCorp (NASDAQ:HCP) Research Coverage Started at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a note issued to investors on Thursday. The firm set a “hold” rating on the stock.

Other research analysts have also recently issued reports about the stock. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Piper Sandler restated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup initiated coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.08.

HashiCorp Trading Up 0.0 %

Shares of HashiCorp stock opened at $33.68 on Thursday. HashiCorp has a 12-month low of $18.91 and a 12-month high of $34.06. The stock has a market cap of $6.77 billion, a PE ratio of -35.08 and a beta of 1.25. The company has a 50-day moving average of $33.85 and a two-hundred day moving average of $32.91.

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

Insider Buying and Selling at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $33.71, for a total transaction of $1,210,323.84. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,239,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $33.71, for a total transaction of $1,210,323.84. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,239,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Mcjannet sold 48,055 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction 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 approximately $14,196,929.04. This trade represents 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 sold 385,125 shares of company stock worth $13,022,483. Insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Institutional investors have recently added to or reduced their stakes in the business. American Capital Advisory LLC purchased a new stake in HashiCorp during the 2nd quarter worth $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in HashiCorp during the 3rd quarter worth $51,000. Advisors Asset Management Inc. boosted its position in HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares during the last quarter. Covestor Ltd boosted its position in HashiCorp by 12,888.9% in 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 last quarter. Finally, Quest Partners LLC boosted its position in HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares during the last quarter. 87.83% of the stock is owned by hedge funds and other 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.