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

Research analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a report released on Monday. The firm set a “hold” rating on the stock.

Several other research analysts also recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, Citigroup began coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 target price for the company. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.08.

HashiCorp Price Performance

NASDAQ HCP opened at $33.84 on Monday. The company has a fifty day moving average price of $33.77 and a 200-day moving average price of $32.05. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of -35.26 and a beta of 1.25. HashiCorp has a 1 year low of $18.91 and a 1 year high of $34.06.

HashiCorp (NASDAQ:HCP) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $157.22 million. During the same period last year, the company posted ($0.34) earnings per share. HashiCorp’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, research analysts anticipate that HashiCorp will post -0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Navam Welihinda sold 5,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the transaction, the chief financial officer now directly owns 91,485 shares in the company, valued at approximately $3,064,747.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Navam Welihinda sold 5,000 shares of HashiCorp stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the sale, the chief financial officer now directly owns 91,485 shares in the company, valued at approximately $3,064,747.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $33.46, for a total transaction of $465,629.36. Following the sale, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at $146,153.28. The disclosure for this sale can be found here. Insiders sold 368,137 shares of company stock worth $12,429,132 over the last three months. Company insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whale Rock Capital Management LLC boosted its holdings in shares of HashiCorp by 293.2% during the 1st quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock valued at $123,046,000 after purchasing an additional 3,404,557 shares during the last quarter. Pentwater Capital Management LP bought a new position in HashiCorp during the second quarter valued at approximately $91,654,000. Magnetar Financial LLC purchased a new position in HashiCorp during the 2nd quarter valued at approximately $71,490,000. Champlain Investment Partners LLC bought a new stake in HashiCorp in the 1st quarter worth approximately $48,995,000. Finally, Vanguard Group Inc. increased its stake in HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after acquiring an additional 1,501,953 shares during the last quarter. Institutional investors own 87.83% 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.