StockNews.com Begins Coverage on HashiCorp (NASDAQ:HCP)

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a report issued on Tuesday morning. The brokerage issued a hold rating on the stock.

Other equities analysts have also issued reports about the stock. Bank of America boosted their price target on shares of HashiCorp from $28.00 to $32.00 and gave the company 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. BTIG Research downgraded HashiCorp from a buy rating to a neutral rating in a report on Wednesday, April 24th. JMP Securities reissued a market perform rating on shares of HashiCorp in a report on Thursday, June 6th. Finally, Truist Financial reaffirmed a hold rating and issued a $35.00 target price (up previously from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $31.17.

HashiCorp Stock Performance

Shares of NASDAQ:HCP traded up $0.06 during midday trading on Tuesday, hitting $33.81. The company’s stock had a trading volume of 458,027 shares, compared to its average volume of 3,493,448. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $34.05. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of -35.16 and a beta of 1.25. The stock’s 50 day simple moving average is $33.60 and its 200 day simple moving average is $29.84.

HashiCorp (NASDAQ:HCP) last issued 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 net margin of 31.13% and a negative return on equity of 14.27%. As a group, analysts anticipate that HashiCorp will post -0.8 EPS for the current year.

Insider Transactions at HashiCorp

In other news, Director Sigal Zarmi sold 975 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.60, for a total transaction of $32,760.00. Following the completion of the transaction, the director now directly owns 37,546 shares of the company’s stock, valued at $1,261,545.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Sigal Zarmi sold 975 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.60, for a total transaction of $32,760.00. Following the sale, the director now owns 37,546 shares in the company, valued at $1,261,545.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $33.66, for a total value of $468,412.56. Following the transaction, the chief marketing officer now directly owns 4,368 shares in the company, valued at approximately $147,026.88. The disclosure for this sale can be found here. Insiders have sold a total of 406,736 shares of company stock valued at $13,612,236 over the last 90 days. 22.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On HashiCorp

Several hedge funds have recently bought and sold shares of HCP. Xponance Inc. lifted its position in shares of HashiCorp by 3.1% during the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock valued at $346,000 after acquiring an additional 305 shares during the period. Comerica Bank grew its position in HashiCorp by 2.1% in the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock valued at $497,000 after acquiring an additional 374 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of HashiCorp by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock worth $1,020,000 after acquiring an additional 420 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after acquiring an additional 961 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of HashiCorp by 3.5% during the second quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock worth $1,075,000 after purchasing an additional 1,065 shares during the last quarter. 87.83% of the stock is currently 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.