HashiCorp’s (HCP) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of HashiCorp (NASDAQ:HCP) in a research note published on Thursday morning, Benzinga reports.

A number of other equities analysts have also weighed in on HCP. Citigroup boosted their price objective on shares of HashiCorp from $22.00 to $24.00 and gave the stock a neutral rating in a report on Monday, January 22nd. Scotiabank upgraded shares of HashiCorp from a sector perform rating to a sector outperform rating and set a $31.00 target price for the company in a research note on Tuesday, March 12th. Piper Sandler reiterated a neutral rating and set a $25.00 target price (up from $22.00) on shares of HashiCorp in a research note on Wednesday, March 6th. BTIG Research lowered shares of HashiCorp from a buy rating to a neutral rating in a research note on Wednesday. Finally, JMP Securities restated a market outperform rating and issued a $38.00 price objective on shares of HashiCorp in a research note on Thursday, March 7th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, HashiCorp presently has an average rating of Hold and an average price target of $30.77.

HashiCorp Stock Down 0.7 %

Shares of HCP opened at $32.59 on Thursday. The business’s 50 day moving average price is $26.08 and its 200-day moving average price is $23.45. HashiCorp has a 52 week low of $18.91 and a 52 week high of $36.39. The stock has a market cap of $6.50 billion, a P/E ratio of -33.25 and a beta of 1.42.

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

Insider Buying and Selling at HashiCorp

In other HashiCorp news, insider Ledger Susan St. sold 17,895 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $27.39, for a total transaction of $490,144.05. Following the completion of the transaction, the insider now owns 121,702 shares of the company’s stock, valued at approximately $3,333,417.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Ledger Susan St. sold 17,895 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $27.39, for a total value of $490,144.05. Following the completion of the transaction, the insider now owns 121,702 shares of the company’s stock, valued at approximately $3,333,417.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $23.02, for a total transaction of $826,510.08. Following the completion of the sale, the chief technology officer now directly owns 1,804,780 shares in the company, valued at $41,546,035.60. The disclosure for this sale can be found here. Insiders sold 267,427 shares of company stock valued at $6,728,242 in the last 90 days. Insiders own 26.13% of the company’s stock.

Institutional Trading of HashiCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCP. TimesSquare Capital Management LLC purchased a new position in shares of HashiCorp during the third quarter worth approximately $55,774,000. Atreides Management LP purchased a new position in shares of HashiCorp during the third quarter worth approximately $31,413,000. Artemis Investment Management LLP increased its position in shares of HashiCorp by 416.0% during the first quarter. Artemis Investment Management LLP now owns 1,555,104 shares of the company’s stock worth $41,891,000 after acquiring an additional 1,253,723 shares during the period. Vanguard Group Inc. increased its position in shares of HashiCorp by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock worth $253,484,000 after acquiring an additional 999,671 shares during the period. Finally, Optimus Prime Fund Management Co. Ltd. increased its position in shares of HashiCorp by 50.0% during the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after acquiring an additional 949,100 shares during the period. 87.83% of the stock is 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.