HashiCorp (NASDAQ:HCP) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCPFree Report) from a sell rating to a hold rating in a research note released on Thursday morning.

Other equities research analysts have also issued research reports about the company. Truist Financial lowered their target price on HashiCorp from $34.00 to $27.00 and set a buy rating for the company in a research note on Friday, December 8th. Morgan Stanley raised HashiCorp from an equal weight rating to an overweight rating and boosted their target price for the company from $23.00 to $30.00 in a research note on Monday, February 26th. TD Cowen boosted their target price on HashiCorp from $23.00 to $26.00 and gave the company a market perform rating in a research note on Wednesday, March 6th. Needham & Company LLC boosted their target price on HashiCorp from $27.00 to $30.00 and gave the company a buy rating in a research note on Monday, March 4th. Finally, Citigroup upped their price target on HashiCorp from $22.00 to $24.00 and gave the company a neutral rating in a research report on Monday, January 22nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, HashiCorp currently has an average rating of Moderate Buy and an average target price of $28.77.

Read Our Latest Research Report on HCP

HashiCorp Stock Up 3.0 %

Shares of HCP stock opened at $26.50 on Thursday. The business has a 50-day moving average price of $23.77 and a two-hundred day moving average price of $22.97. HashiCorp has a 12-month low of $18.91 and a 12-month high of $36.39. The firm has a market cap of $5.19 billion, a P/E ratio of -27.04 and a beta of 1.41.

Insider Buying and Selling

In other HashiCorp news, CFO Navam Welihinda sold 33,045 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $22.80, for a total transaction of $753,426.00. Following the sale, the chief financial officer now directly owns 96,737 shares in the company, valued at approximately $2,205,603.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $22.78, for a total transaction of $317,006.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Navam Welihinda sold 33,045 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $22.80, for a total value of $753,426.00. Following the transaction, the chief financial officer now directly owns 96,737 shares in the company, valued at $2,205,603.60. The disclosure for this sale can be found here. Insiders have sold 457,122 shares of company stock worth $10,412,457 in the last 90 days. Insiders own 26.13% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently modified their holdings of HCP. Treasurer of the State of North Carolina raised its holdings in HashiCorp by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock worth $1,020,000 after purchasing an additional 420 shares during the period. State of Wisconsin Investment Board raised its holdings in HashiCorp by 0.3% in the 2nd quarter. State of Wisconsin Investment Board now owns 154,892 shares of the company’s stock worth $4,055,000 after purchasing an additional 540 shares during the period. Citigroup Inc. raised its holdings in HashiCorp by 167.6% in the 4th quarter. Citigroup Inc. now owns 918 shares of the company’s stock worth $25,000 after purchasing an additional 575 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after purchasing an additional 615 shares during the period. Finally, Geneos Wealth Management Inc. bought a new stake in HashiCorp during the first quarter valued at about $33,000. 45.93% of the stock is owned by institutional investors.

HashiCorp Company Profile

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HashiCorp, Inc provides multi-cloud infrastructure automation solutions worldwide. The company offers Terraform, an infrastructure provisioning product that applies an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; and Vault, a secrets management and data protection product, which enables security teams to apply policies based on application and user identity to govern access to credentials and secure sensitive data.

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Analyst Recommendations for HashiCorp (NASDAQ:HCP)

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