HashiCorp (NASDAQ:HCP) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of HashiCorp (NASDAQ:HCP) in a report published on Wednesday morning. The brokerage issued a hold rating on the stock.

Several other research analysts also recently weighed in on HCP. Piper Sandler restated a neutral rating and set a $35.00 target price on shares of HashiCorp in a research note 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 started coverage on HashiCorp in a research note on Tuesday, September 3rd. They set a neutral rating and a $35.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $32.08.

HashiCorp Trading Down 0.1 %

HCP opened at $33.89 on Wednesday. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -35.30 and a beta of 1.25. HashiCorp has a 12 month low of $18.91 and a 12 month high of $34.06. The stock has a fifty day moving average price of $33.73 and a 200-day moving average price of $31.64.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The firm had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.34) EPS. On average, equities research analysts forecast that HashiCorp will post -0.59 EPS for the current year.

Insider Buying and Selling

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total transaction of $470,360.80. Following the completion of the transaction, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at $147,638.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Ledger Susan St. sold 3,264 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $33.45, for a total value of $109,180.80. Following the completion of the sale, the insider now owns 146,242 shares of the company’s stock, valued at $4,891,794.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Marc Holmes sold 13,916 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $33.80, for a total value of $470,360.80. Following the completion of the sale, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $147,638.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 286,794 shares of company stock valued at $9,650,892. 22.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On HashiCorp

Several hedge funds and other institutional investors have recently made changes to their positions in HCP. Whale Rock Capital Management LLC grew its position in HashiCorp by 293.2% in the first quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after acquiring an additional 3,404,557 shares during the period. Pentwater Capital Management LP purchased a new position in HashiCorp in the second quarter worth approximately $91,654,000. Magnetar Financial LLC purchased a new position in HashiCorp in the second quarter worth approximately $71,490,000. Champlain Investment Partners LLC purchased a new position in HashiCorp in the first quarter worth approximately $48,995,000. Finally, Vanguard Group Inc. grew its position in HashiCorp by 14.0% in the first 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 period. Institutional investors and hedge funds 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.