HashiCorp (NASDAQ:HCP) Given “Market Perform” Rating at JMP Securities

JMP Securities reissued their market perform rating on shares of HashiCorp (NASDAQ:HCP) in a research note published on Monday morning, Benzinga reports.

Several other research analysts have also recently issued reports on the company. Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a neutral rating and a $35.00 price objective for the company. Piper Sandler restated a neutral rating and set a $35.00 target price on shares of HashiCorp in a research note on Friday, August 30th. Finally, StockNews.com started coverage on shares of HashiCorp in a research note on Thursday, September 12th. They issued a hold rating 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.com, the stock presently has an average rating of Hold and an average price target of $32.08.

HashiCorp Stock Up 0.1 %

Shares of NASDAQ:HCP opened at $33.94 on Monday. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.06. The firm’s 50 day moving average price is $33.73 and its 200 day moving average price is $31.59. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -35.35 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the business earned ($0.34) EPS. On average, equities analysts anticipate that HashiCorp will post -0.59 EPS for the current year.

Insider Activity

In related news, CTO Armon Dadgar sold 21,137 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $33.48, for a total transaction of $707,666.76. Following the transaction, the chief technology officer now owns 23,234 shares of the company’s stock, valued at $777,874.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total value of $470,360.80. Following the sale, the chief marketing officer now directly owns 4,368 shares in the company, valued at $147,638.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Armon Dadgar sold 21,137 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $33.48, for a total value of $707,666.76. Following the completion of the transaction, the chief technology officer now owns 23,234 shares of the company’s stock, valued at approximately $777,874.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 286,794 shares of company stock valued at $9,650,892. Insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after purchasing an additional 1,501,953 shares in the last quarter. Whale Rock Capital Management LLC boosted its position in HashiCorp by 293.2% during the first quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after acquiring an additional 3,404,557 shares during the last quarter. Jericho Capital Asset Management L.P. grew its stake in HashiCorp by 53.3% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after acquiring an additional 1,161,600 shares during the period. Optimus Prime Fund Management Co. Ltd. raised its holdings in HashiCorp by 50.0% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock valued at $67,353,000 after acquiring an additional 949,100 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of HashiCorp by 35.7% during the 4th quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock worth $64,350,000 after purchasing an additional 716,574 shares during the period. 87.83% of the stock is 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.