HashiCorp (NASDAQ:HCP) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research report sent to investors on Friday morning. The brokerage issued a hold rating on the stock.

HCP has been the topic of several other reports. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Citigroup began coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price on the stock. Finally, Piper Sandler reiterated a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a research note on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Up 0.1 %

NASDAQ:HCP opened at $33.62 on Friday. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -44.83 and a beta of 1.24. The company’s 50 day moving average price is $33.85 and its 200-day moving average price is $33.71. HashiCorp has a 52 week low of $19.26 and a 52 week high of $34.21.

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

Insider Activity at HashiCorp

In related news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the sale, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $147,638.40. This represents a 76.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total transaction of $1,214,632.32. Following the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,421,600. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 366,208 shares of company stock worth $12,391,868. 22.49% of the stock is owned by company insiders.

Institutional Trading of HashiCorp

A number of hedge funds and other institutional investors have recently modified their holdings of HCP. Westchester Capital Management LLC grew its position in shares of HashiCorp by 60.5% during the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock worth $108,363,000 after purchasing an additional 1,206,073 shares in the last quarter. Pentwater Capital Management LP bought a new position in HashiCorp in the 2nd quarter worth approximately $91,654,000. Geode Capital Management LLC grew its holdings in HashiCorp by 18.0% during 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 in the last quarter. State Street Corp raised its position in shares of HashiCorp by 14.5% during the third 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 last quarter. Finally, Alpine Associates Management Inc. lifted its holdings in shares of HashiCorp by 48.7% in the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after buying an additional 701,350 shares in 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.