HashiCorp (NASDAQ:HCP) Coverage Initiated by Analysts at StockNews.com

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

Several other equities research analysts have also commented on HCP. JMP Securities reaffirmed a market perform rating on shares of HashiCorp in a report on Monday, September 16th. Citigroup started coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They issued a neutral rating and a $35.00 price target on the stock. Finally, Piper Sandler reaffirmed a neutral rating and issued a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $32.08.

HashiCorp Price Performance

Shares of HCP opened at $33.94 on Friday. The firm has a market capitalization of $6.82 billion, a PE ratio of -35.35 and a beta of 1.25. HashiCorp has a 1-year low of $18.91 and a 1-year high of $34.06. The company’s fifty day moving average price is $33.82 and its 200-day moving average price is $32.43.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. During the same period in the previous year, the company earned ($0.34) earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, research analysts anticipate that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total transaction of $1,214,991.36. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,436,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total transaction of $1,214,991.36. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,436,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00. Following the transaction, the chief financial officer now owns 91,485 shares of the company’s stock, valued at approximately $3,064,747.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 390,125 shares of company stock worth $13,178,494 in the last 90 days. Insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

Large investors have recently bought and sold shares of the business. American Capital Advisory LLC purchased a new stake in HashiCorp during the 2nd quarter valued at about $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HashiCorp in the 3rd quarter valued at approximately $51,000. Advisors Asset Management Inc. grew its stake in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after buying an additional 961 shares during the period. Covestor Ltd grew its stake in shares of HashiCorp by 12,888.9% in the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after buying an additional 3,480 shares during the period. Finally, Quest Partners LLC grew its stake in shares of HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares during the period. Hedge funds and other 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.