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

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research note published on Tuesday. The brokerage issued a hold rating on the stock.

A number of other analysts have also weighed in on HCP. Piper Sandler reaffirmed a neutral rating and issued a $35.00 price objective on shares of HashiCorp in a research note on Friday, August 30th. JMP Securities reaffirmed a market perform rating on shares of HashiCorp in a research report on Monday, September 16th. Finally, Citigroup began coverage on shares of HashiCorp in a report on Tuesday, September 3rd. They set a neutral rating and a $35.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, HashiCorp has an average rating of Hold and a consensus target price of $32.08.

HashiCorp Stock Performance

Shares of NASDAQ:HCP opened at $33.87 on Tuesday. The firm’s 50 day simple moving average is $33.75 and its 200-day simple moving average is $31.85. HashiCorp has a one year low of $18.91 and a one year high of $34.06. The firm has a market cap of $6.81 billion, a PE ratio of -35.28 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The company had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. During the same period last year, the business posted ($0.34) EPS. HashiCorp’s quarterly revenue was up 15.3% on a year-over-year basis. Equities research analysts predict that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Activity at HashiCorp

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $33.46, for a total value of $465,629.36. Following the completion of the sale, the chief marketing officer now owns 4,368 shares of the company’s stock, valued at $146,153.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $33.64, for a total value of $1,207,810.56. Following the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,132,800. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $33.46, for a total value of $465,629.36. Following the sale, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $146,153.28. The disclosure for this sale can be found here. Insiders have sold 404,041 shares of company stock valued at $13,636,943 in the last ninety days. Corporate insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HCP. Charles Schwab Investment Management Inc. lifted its stake in HashiCorp by 11.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after acquiring an additional 63,879 shares during the period. Swiss National Bank grew its position in shares of HashiCorp by 11.8% during the 1st quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after acquiring an additional 23,400 shares during the period. Contour Asset Management LLC purchased a new position in shares of HashiCorp in the 4th quarter valued at about $21,217,000. GGV Capital LLC raised its stake in shares of HashiCorp by 4.6% during the 4th quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock worth $15,579,000 after buying an additional 29,064 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of HashiCorp during the 1st quarter valued at approximately $1,070,000. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

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.