HashiCorp (NASDAQ:HCP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research report sent to investors on Saturday. The firm issued a hold rating on the stock.

HCP has been the subject of a number of other reports. Piper Sandler reaffirmed a neutral rating and set a $35.00 price target 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 report on Thursday, June 6th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $32.08.

HashiCorp Trading Down 0.3 %

HCP opened at $33.84 on Friday. HashiCorp has a 1-year low of $18.91 and a 1-year high of $34.05. The company has a market capitalization of $6.80 billion, a PE ratio of -35.24 and a beta of 1.25. The firm’s 50 day simple moving average is $33.66 and its two-hundred day simple moving average is $30.81.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The firm had revenue of $165.14 million for the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.60%. The company’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the firm earned ($0.34) EPS. Equities analysts forecast that HashiCorp will post -0.82 earnings per share for the current fiscal year.

Insider Activity at HashiCorp

In other news, Director Sigal Zarmi sold 975 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $33.60, for a total transaction of $32,760.00. Following the transaction, the director now directly owns 37,546 shares of the company’s stock, valued at approximately $1,261,545.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Sigal Zarmi sold 975 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $33.60, for a total transaction of $32,760.00. Following the transaction, the director now directly owns 37,546 shares in the company, valued at approximately $1,261,545.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Marc Holmes sold 11,926 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.26, for a total transaction of $396,658.76. Following the completion of the transaction, the chief marketing officer now owns 18,096 shares in the company, valued at approximately $601,872.96. The disclosure for this sale can be found here. Insiders sold a total of 370,832 shares of company stock worth $12,425,028 in the last 90 days. 22.49% of the stock is owned by insiders.

Institutional Trading of HashiCorp

Hedge funds have recently made changes to their positions in the stock. American Capital Advisory LLC acquired a new position in HashiCorp in the second quarter worth $40,000. Advisors Asset Management Inc. boosted its holdings in HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after purchasing an additional 961 shares during the period. Covestor Ltd boosted its holdings in HashiCorp by 12,888.9% in the first quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after purchasing an additional 3,480 shares during the period. Quest Partners LLC lifted its stake in HashiCorp by 9,736.1% in the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares during the last quarter. Finally, Industry Ventures L.L.C. bought a new stake in HashiCorp in the fourth quarter valued at $157,000. Institutional investors and hedge funds own 87.83% of the company’s stock.

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.