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

StockNews.com began coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued on Saturday. The firm set a “hold” rating on the stock.

Other equities research analysts also recently issued research reports about the stock. BTIG Research downgraded shares of HashiCorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 24th. Piper Sandler upped their price objective on HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research note on Thursday, June 6th. Truist Financial reiterated a “hold” rating and issued a $35.00 price objective (up previously from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. Finally, Scotiabank restated a “sector perform” rating and set a $35.00 target price (up from $31.00) on shares of HashiCorp in a research report on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, HashiCorp has a consensus rating of “Hold” and an average target price of $31.17.

HashiCorp Price Performance

HCP opened at $33.48 on Friday. The firm has a market cap of $6.73 billion, a PE ratio of -34.87 and a beta of 1.25. The stock has a 50-day moving average price of $33.49 and a 200-day moving average price of $28.42. HashiCorp has a 1 year low of $18.91 and a 1 year high of $34.05.

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

Insider Activity

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of HashiCorp 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $33.64, for a total transaction of $1,207,810.56. Following the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,132,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction on Monday, June 10th. The stock was sold at an average price of $33.74, for a total transaction of $469,525.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 359,266 shares of company stock worth $11,952,015. 22.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its position in shares of HashiCorp by 6,183.7% during the second quarter. Assenagon Asset Management S.A. now owns 1,011,428 shares of the company’s stock worth $34,075,000 after purchasing an additional 995,332 shares during the last quarter. Samson Rock Capital LLP purchased a new stake in HashiCorp in the 2nd quarter valued at about $18,530,000. Friedenthal Financial purchased a new stake in HashiCorp in the 2nd quarter valued at about $761,000. SG Americas Securities LLC grew its stake in HashiCorp by 111.6% in the 2nd quarter. SG Americas Securities LLC now owns 150,713 shares of the company’s stock worth $5,078,000 after acquiring an additional 79,485 shares in the last quarter. Finally, Renaissance Capital LLC increased its position in shares of HashiCorp by 35.1% during the second quarter. Renaissance Capital LLC now owns 86,426 shares of the company’s stock worth $2,912,000 after acquiring an additional 22,462 shares during the period. 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.