HashiCorp (NASDAQ:HCP) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of HashiCorp (NASDAQ:HCPFree Report) in a research note published on Monday morning. The brokerage issued a hold rating on the stock.

A number of other research firms have also recently commented on HCP. Truist Financial reissued a hold rating and issued a $35.00 target price (up previously from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. Needham & Company LLC restated a hold rating on shares of HashiCorp in a research report on Thursday, April 25th. Bank of America upped their target price on HashiCorp from $28.00 to $32.00 and gave the company a neutral rating in a report on Wednesday, April 24th. BTIG Research cut HashiCorp from a buy rating to a neutral rating in a research report on Wednesday, April 24th. Finally, JMP Securities reaffirmed a market perform rating on shares of HashiCorp in a research report on Thursday, June 6th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HashiCorp has a consensus rating of Hold and a consensus target price of $31.17.

Check Out Our Latest Research Report on HCP

HashiCorp Stock Down 0.0 %

Shares of NASDAQ HCP opened at $33.36 on Monday. The stock’s 50 day moving average price is $33.37 and its 200-day moving average price is $27.86. HashiCorp has a twelve month low of $18.91 and a twelve month high of $34.05. The company has a market capitalization of $6.71 billion, a PE ratio of -34.75 and a beta of 1.25.

HashiCorp (NASDAQ:HCPGet Free Report) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.02. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. The company had revenue of $160.58 million during the quarter, compared to the consensus estimate of $153.39 million. As a group, research analysts expect that HashiCorp will post -0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $24.31, for a total transaction of $872,826.24. Following the completion of the transaction, the chief technology officer now directly owns 1,625,260 shares in the company, valued at $39,510,070.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $24.31, for a total transaction of $872,826.24. Following the completion of the transaction, the chief technology officer now directly owns 1,625,260 shares of the company’s stock, valued at approximately $39,510,070.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Marc Holmes sold 13,916 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $33.74, for a total value of $469,525.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 381,254 shares of company stock valued at $12,359,211. 22.49% of the stock is owned by company insiders.

Institutional Trading of HashiCorp

Several institutional investors have recently made changes to their positions in HCP. CWM LLC raised its stake in shares of HashiCorp by 311.1% in the 2nd quarter. CWM LLC now owns 8,127 shares of the company’s stock valued at $274,000 after acquiring an additional 6,150 shares during the period. Cetera Advisors LLC acquired a new stake in HashiCorp in the 1st quarter valued at about $379,000. Washington Harbour Partners LP raised its holdings in HashiCorp by 72.5% in the first quarter. Washington Harbour Partners LP now owns 78,500 shares of the company’s stock valued at $2,116,000 after acquiring an additional 33,000 shares in the last quarter. Comerica Bank lifted its position in shares of HashiCorp by 2.1% during the 1st quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after purchasing an additional 374 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of HashiCorp by 5.1% during the 1st quarter. California State Teachers Retirement System now owns 111,076 shares of the company’s stock worth $2,993,000 after acquiring an additional 5,372 shares in the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

About HashiCorp

(Get Free Report)

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.

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