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

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

A number of other analysts also recently weighed in on HCP. TD Cowen upped their target price on HashiCorp from $23.00 to $26.00 and gave the company a market perform rating in a research report on Wednesday, March 6th. BTIG Research downgraded HashiCorp from a buy rating to a neutral rating in a research report on Wednesday, April 24th. Needham & Company LLC restated a hold rating on shares of HashiCorp in a research report on Thursday, April 25th. Oppenheimer restated an outperform rating and set a $34.00 price objective on shares of HashiCorp in a research report on Wednesday, March 6th. Finally, Truist Financial restated a hold rating and set a $35.00 price objective (up from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $31.17.

HashiCorp Stock Performance

NASDAQ:HCP opened at $33.75 on Tuesday. The company has a market cap of $6.79 billion, a PE ratio of -35.16 and a beta of 1.25. HashiCorp has a 52-week low of $18.91 and a 52-week high of $34.05. The stock has a 50-day simple moving average of $33.31 and a 200 day simple moving average of $27.57.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. The firm had revenue of $160.58 million during the quarter, compared to the consensus estimate of $153.39 million. HashiCorp had a negative return on equity of 14.27% and a negative net margin of 31.13%. On average, research analysts predict that HashiCorp will post -0.8 earnings per share for the current fiscal year.

Insider Activity

In related news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $26.30, for a total transaction of $365,990.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $26.30, for a total transaction of $365,990.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sigal Zarmi sold 975 shares of HashiCorp stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.60, for a total value of $32,760.00. Following the sale, the director now directly owns 37,546 shares of the company’s stock, valued at approximately $1,261,545.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 359,266 shares of company stock worth $11,517,392. 22.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On HashiCorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. increased its holdings in HashiCorp by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after purchasing an additional 961 shares during the period. Covestor Ltd increased its holdings in HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock valued at $95,000 after purchasing an additional 3,480 shares during the period. Industry Ventures L.L.C. purchased a new position in HashiCorp during the 4th quarter valued at about $157,000. Entropy Technologies LP purchased a new position in HashiCorp during the 1st quarter valued at about $311,000. Finally, SVB Wealth LLC purchased a new position in HashiCorp during the 4th quarter valued at about $273,000. Institutional investors own 87.83% 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.