HashiCorp (NASDAQ:HCP) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Tuesday morning. The brokerage issued a hold rating on the stock.

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

HashiCorp Trading Up 0.2 %

Shares of HCP stock opened at $33.90 on Tuesday. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of -55.48 and a beta of 1.21. HashiCorp has a 12-month low of $20.89 and a 12-month high of $34.21. The stock’s 50-day moving average price is $33.81 and its 200-day moving average price is $33.74.

Insider Buying and Selling

In other HashiCorp news, CTO Armon Dadgar sold 35,903 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.58, for a total value of $1,205,622.74. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,041,600. This represents a 2.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Marc Holmes sold 11,854 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $401,139.36. Following the completion of the sale, the chief marketing officer now directly owns 22,536 shares of the company’s stock, valued at approximately $762,618.24. This trade represents a 34.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 352,291 shares of company stock worth $11,912,497 in the last 90 days. Insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds have recently made changes to their positions in the stock. Neo Ivy Capital Management purchased a new position in shares of HashiCorp during the 3rd quarter worth approximately $2,400,000. Geode Capital Management LLC boosted its position in HashiCorp by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after buying an additional 385,118 shares during the period. Public Employees Retirement System of Ohio boosted its position in HashiCorp by 39.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock valued at $1,735,000 after buying an additional 14,555 shares during the period. K2 Principal Fund L.P. boosted its position in HashiCorp by 34.0% in the 3rd quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company’s stock valued at $3,994,000 after buying an additional 29,901 shares during the period. Finally, State Street Corp boosted its position in HashiCorp by 14.5% in the 3rd quarter. State Street Corp now owns 2,239,850 shares of the company’s stock valued at $75,841,000 after buying an additional 282,965 shares during the period. Hedge funds and other institutional investors own 86.25% of the company’s stock.

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.