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

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a report issued on Saturday. The firm issued a hold rating on the stock.

Several other equities analysts have also commented on the company. Citigroup started coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective for the company. JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, Piper Sandler reissued a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Up 0.2 %

NASDAQ:HCP opened at $33.92 on Friday. The stock has a market cap of $6.88 billion, a P/E ratio of -45.23 and a beta of 1.24. The firm’s fifty day simple moving average is $33.87 and its 200 day simple moving average is $33.67. HashiCorp has a twelve month low of $19.26 and a twelve month high of $34.21.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $165.14 million for the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) earnings per share. On average, analysts expect that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Transactions at HashiCorp

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $33.86, for a total value of $1,215,709.44. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,467,200. The trade was a 2.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Mcjannet sold 48,055 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the completion of the transaction, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 330,305 shares of company stock valued at $11,174,756 in the last quarter. 22.49% of the stock is owned by insiders.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds have recently bought and sold shares of HCP. Neo Ivy Capital Management bought a new stake in shares of HashiCorp during the 3rd quarter valued at about $2,400,000. Geode Capital Management LLC grew its stake in shares of HashiCorp by 18.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company’s stock valued at $85,417,000 after purchasing an additional 385,118 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of HashiCorp by 39.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 51,231 shares of the company’s stock valued at $1,735,000 after purchasing an additional 14,555 shares during the period. K2 Principal Fund L.P. grew its stake in shares of HashiCorp by 34.0% during the 3rd quarter. K2 Principal Fund L.P. now owns 117,951 shares of the company’s stock valued at $3,994,000 after purchasing an additional 29,901 shares during the period. Finally, State Street Corp grew its stake in shares of HashiCorp by 14.5% during the 3rd quarter. State Street Corp now owns 2,239,850 shares of the company’s stock valued at $75,841,000 after purchasing an additional 282,965 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.