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

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

HCP has been the topic of a number of other reports. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, September 16th. Piper Sandler reissued a “neutral” rating and set a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup initiated coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, HashiCorp currently has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Performance

Shares of HCP stock opened at $33.74 on Friday. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of -44.99 and a beta of 1.24. HashiCorp has a one year low of $19.26 and a one year high of $34.21. The company has a 50 day moving average price of $33.88 and a 200 day moving average price of $33.64.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business had revenue of $165.14 million during the quarter, compared to the consensus estimate of $157.22 million. During the same period in the prior year, the firm posted ($0.34) EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities analysts forecast that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Activity

In other news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the completion of the sale, the chief financial officer now owns 88,322 shares of the company’s stock, valued at approximately $2,991,466.14. This trade represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Marc Holmes sold 11,854 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $401,139.36. Following the completion of the sale, the chief marketing officer now directly owns 22,536 shares in the company, valued at $762,618.24. This represents a 34.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 371,209 shares of company stock worth $12,559,456 over the last ninety days. Corporate insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds have recently bought and sold shares of HCP. Longfellow Investment Management Co. LLC bought a new position in HashiCorp during the 3rd quarter worth approximately $38,000. American Capital Advisory LLC acquired a new stake in shares of HashiCorp during the 2nd quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HashiCorp during the third quarter worth $51,000. Advisors Asset Management Inc. lifted its stake in HashiCorp by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after purchasing an additional 961 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after purchasing an additional 3,480 shares during the period. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.