HashiCorp, Inc. (NASDAQ:HCP) Given Consensus Recommendation of “Hold” by Analysts

Shares of HashiCorp, Inc. (NASDAQ:HCP) have been assigned an average rating of “Hold” from the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $32.08.

Several equities analysts have recently commented on HCP shares. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. StockNews.com began coverage on shares of HashiCorp in a report on Wednesday. They issued a “hold” rating on the stock. Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. Finally, Piper Sandler reiterated a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th.

Insider Buying and Selling at HashiCorp

In related news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction dated Friday, September 20th. The shares were 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 represents a 10.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.58, for a total transaction of $1,205,622.74. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,041,600. This trade represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 352,291 shares of company stock valued at $11,912,497. Corporate insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Westchester Capital Management LLC increased its holdings in HashiCorp by 60.5% in the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company’s stock worth $108,363,000 after buying an additional 1,206,073 shares in the last quarter. Pentwater Capital Management LP bought a new stake in shares of HashiCorp in the second quarter worth approximately $91,654,000. Geode Capital Management LLC raised its holdings in shares of HashiCorp by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after purchasing an additional 385,118 shares during the last quarter. State Street Corp lifted its position in 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 purchasing an additional 282,965 shares during the period. Finally, Alpine Associates Management Inc. boosted its holdings in 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 purchasing an additional 701,350 shares during the last quarter. Institutional investors own 86.25% of the company’s stock.

HashiCorp Stock Down 0.1 %

HCP opened at $33.78 on Monday. The business’s fifty day simple moving average is $33.82 and its 200 day simple moving average is $33.74. HashiCorp has a 52 week low of $20.89 and a 52 week high of $34.21. The stock has a market cap of $6.85 billion, a PE ratio of -55.38 and a beta of 1.21.

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.