HashiCorp (NASDAQ:HCP) Upgraded at StockNews.com

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCP) from a hold rating to a buy rating in a research report released on Monday morning.

Separately, JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, HashiCorp has a consensus rating of “Hold” and an average price target of $32.08.

HashiCorp Stock Performance

Shares of HashiCorp stock opened at $34.30 on Monday. HashiCorp has a twelve month low of $20.89 and a twelve month high of $34.47. The business has a 50-day moving average price of $33.98 and a 200 day moving average price of $33.84.

Insiders Place Their Bets

In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $33.82, for a total value of $1,214,273.28. Following the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,406,400. This trade represents a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Mcjannet sold 47,526 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following the completion of the sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at $15,945,767.16. This trade represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,940 shares of company stock valued at $7,088,351 in the last 90 days. 22.49% of the stock is owned by insiders.

Institutional Trading of HashiCorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its holdings in shares of HashiCorp by 14.5% in the third 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. Geode Capital Management LLC boosted its holdings in HashiCorp by 18.0% in 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 last quarter. Syquant Capital Sas acquired a new position in HashiCorp in the 4th quarter valued at about $18,554,000. K2 Principal Fund L.P. purchased a new stake in shares of HashiCorp in the 2nd quarter valued at approximately $2,966,000. Finally, Alpine Associates Management Inc. increased its holdings in shares of HashiCorp by 48.7% during the 3rd 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. 86.25% of the stock is owned by institutional investors and hedge funds.

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.