StockNews.com Begins Coverage on HashiCorp (NASDAQ:HCP)

Investment analysts at StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued on Tuesday. The brokerage set a “hold” rating on the stock.

Separately, JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $34.40.

HashiCorp Stock Performance

HCP stock opened at $34.78 on Tuesday. The firm has a market cap of $7.11 billion, a PE ratio of -57.02 and a beta of 1.18. HashiCorp has a 1 year low of $23.00 and a 1 year high of $34.85. The company has a fifty day simple moving average of $34.53 and a 200 day simple moving average of $34.15.

Institutional Investors Weigh In On HashiCorp

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of HashiCorp by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 11,913 shares of the company’s stock worth $408,000 after purchasing an additional 397 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of HashiCorp by 16.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,627 shares of the company’s stock worth $124,000 after buying an additional 524 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of HashiCorp by 10.0% during the fourth quarter. ProShare Advisors LLC now owns 7,877 shares of the company’s stock worth $269,000 after buying an additional 716 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its position in shares of HashiCorp by 9.0% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 9,226 shares of the company’s stock valued at $316,000 after acquiring an additional 765 shares during the period. Finally, Xponance Inc. grew its stake in shares of HashiCorp by 5.8% in the fourth quarter. Xponance Inc. now owns 16,261 shares of the company’s stock worth $556,000 after acquiring an additional 897 shares during the last quarter. 86.25% of the stock is currently owned by institutional investors.

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.