HashiCorp (NASDAQ:HCP) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCP) from a sell rating to a hold rating in a research report sent to investors on Monday.

Several other equities analysts also recently issued reports on HCP. Scotiabank upgraded shares of HashiCorp from a sector perform rating to a sector outperform rating and set a $31.00 price objective for the company in a research note on Tuesday, March 12th. Stifel Nicolaus upped their price objective on shares of HashiCorp from $26.00 to $28.00 and gave the company a buy rating in a research note on Wednesday, March 6th. KeyCorp initiated coverage on shares of HashiCorp in a research note on Tuesday, March 19th. They issued a sector weight rating for the company. Piper Sandler restated a neutral rating and issued a $25.00 price objective (up previously from $22.00) on shares of HashiCorp in a research note on Wednesday, March 6th. Finally, Citigroup upped their price objective on shares of HashiCorp from $22.00 to $24.00 and gave the company a neutral rating in a research note on Monday, January 22nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $28.77.

HashiCorp Price Performance

NASDAQ:HCP opened at $24.55 on Monday. The firm has a market capitalization of $4.90 billion, a PE ratio of -25.05 and a beta of 1.42. The business’s fifty day moving average price is $25.47 and its 200 day moving average price is $23.20. HashiCorp has a 12 month low of $18.91 and a 12 month high of $36.39.

HashiCorp (NASDAQ:HCP) last posted its earnings results on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.06. The firm had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. As a group, equities analysts anticipate that HashiCorp will post -0.8 EPS for the current year.

Insider Buying and Selling

In related news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total transaction of $365,990.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $23.02, for a total value of $826,510.08. Following the completion of the transaction, the chief technology officer now directly owns 1,804,780 shares of the company’s stock, valued at $41,546,035.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Marc Holmes sold 13,916 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $26.30, for a total transaction of $365,990.80. The disclosure for this sale can be found here. Insiders sold 224,173 shares of company stock valued at $5,641,396 over the last ninety days. Corporate insiders own 26.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ronald Blue Trust Inc. boosted its position in HashiCorp by 327.8% during the third quarter. Ronald Blue Trust Inc. now owns 2,049 shares of the company’s stock worth $47,000 after acquiring an additional 1,570 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in HashiCorp by 35.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after acquiring an additional 615 shares during the last quarter. Industry Ventures L.L.C. acquired a new position in shares of HashiCorp in the 4th quarter valued at $157,000. Victory Capital Management Inc. boosted its holdings in shares of HashiCorp by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock valued at $241,000 after purchasing an additional 2,768 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in shares of HashiCorp by 6.7% in the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after purchasing an additional 673 shares during the last quarter. 87.83% of the stock is owned by hedge funds and other institutional investors.

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.