HashiCorp (NASDAQ:HCP) Given “Market Perform” Rating at JMP Securities

HashiCorp (NASDAQ:HCP)‘s stock had its “market perform” rating restated by investment analysts at JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports.

Other equities research analysts have also issued research reports about the company. StockNews.com assumed coverage on HashiCorp in a research note on Wednesday, December 11th. They set a “hold” rating for the company. Citigroup began coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price target for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Price Performance

HashiCorp stock traded up $0.01 during midday trading on Monday, hitting $33.79. 274,606 shares of the stock were exchanged, compared to its average volume of 2,930,889. HashiCorp has a 1 year low of $20.89 and a 1 year high of $34.21. The firm has a market cap of $6.91 billion, a P/E ratio of -55.39 and a beta of 1.21. The company has a 50 day moving average price of $33.81 and a two-hundred day moving average price of $33.74.

Insider Activity at HashiCorp

In related news, CMO Marc Holmes sold 13,782 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $33.81, for a total value of $465,969.42. Following the completion of the sale, the chief marketing officer now owns 8,754 shares in the company, valued at approximately $295,972.74. This represents a 61.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.58, for a total transaction of $1,205,622.74. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,041,600. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 352,291 shares of company stock valued at $11,912,497 over the last ninety days. Insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HCP. New York Life Investment Management LLC acquired a new stake in shares of HashiCorp in the 2nd quarter valued at $11,407,000. K2 Principal Fund L.P. bought a new position in HashiCorp during the second quarter valued at about $2,966,000. Alpine Associates Management Inc. lifted its position in shares of HashiCorp by 48.7% in the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after buying an additional 701,350 shares during the last quarter. Versor Investments LP boosted its stake in shares of HashiCorp by 518.9% during the 3rd quarter. Versor Investments LP now owns 157,725 shares of the company’s stock worth $5,341,000 after acquiring an additional 132,239 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of HashiCorp during the 2nd quarter valued at about $857,000. Hedge funds and other institutional investors own 86.25% of the company’s stock.

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.