StockNews.com Begins Coverage on HashiCorp (NASDAQ:HCP)

Equities research analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a report issued on Monday. The firm set a “hold” rating on the stock.

Separately, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Ten equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $34.40.

HashiCorp Price Performance

Shares of NASDAQ:HCP opened at $34.78 on Monday. HashiCorp has a 1 year low of $23.00 and a 1 year high of $34.85. The business’s 50-day moving average is $34.60 and its 200-day moving average is $34.19. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of -57.02 and a beta of 1.18.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of HashiCorp by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 16,350,402 shares of the company’s stock valued at $559,347,000 after acquiring an additional 611,447 shares in the last quarter. Norges Bank acquired a new stake in HashiCorp in the 4th quarter valued at $161,190,000. Westchester Capital Management LLC increased its stake in HashiCorp by 0.5% during 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 raised its holdings in HashiCorp by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 2,585,092 shares of the company’s stock worth $88,465,000 after buying an additional 63,090 shares during the last quarter. Finally, Alpine Associates Management Inc. lifted its stake in shares of HashiCorp by 11.8% in the fourth quarter. Alpine Associates Management Inc. now owns 2,394,854 shares of the company’s stock valued at $81,928,000 after buying an additional 252,700 shares in the last quarter. 86.25% of the stock is owned by institutional investors and hedge funds.

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.