HashiCorp (NASDAQ:HCP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a report released on Monday. The firm issued a hold rating on the stock.

A number of other equities analysts have also recently issued reports on HCP. Piper Sandler restated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Finally, Citigroup began coverage on HashiCorp in a report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective on the stock. 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, the stock has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Performance

HCP opened at $34.24 on Monday. The business’s 50 day moving average is $33.84 and its 200-day moving average is $33.76. The stock has a market cap of $7.00 billion, a PE ratio of -56.13 and a beta of 1.21. HashiCorp has a twelve month low of $20.89 and a twelve month high of $34.33.

Insider Buying and Selling

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total value of $1,214,991.36. Following the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,436,800. This trade represents a 2.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the transaction, the chief executive officer now owns 465,978 shares in the company, valued at approximately $15,945,767.16. This trade represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 227,044 shares of company stock valued at $7,694,048. Company insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased 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 acquiring an additional 282,965 shares during the last quarter. New York Life Investment Management LLC purchased a new stake in HashiCorp during the second quarter valued at about $11,407,000. Geode Capital Management LLC boosted its holdings in HashiCorp by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock worth $85,417,000 after buying an additional 385,118 shares during the period. K2 Principal Fund L.P. bought a new stake in shares of HashiCorp during the 2nd quarter valued at $2,966,000. Finally, Alpine Associates Management Inc. increased its position in shares of HashiCorp by 48.7% during the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after buying an additional 701,350 shares during the period. Institutional investors and hedge funds own 86.25% of the company’s stock.

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.