HashiCorp, Inc. (NASDAQ:HCP) Receives Average Recommendation of “Hold” from Brokerages

HashiCorp, Inc. (NASDAQ:HCP) has been given a consensus rating of “Hold” by the fourteen ratings firms that are currently covering the company, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $32.08.

A number of equities research analysts have weighed in on HCP shares. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Thursday, June 6th. StockNews.com initiated coverage on HashiCorp in a research report on Friday. They set a “hold” rating for the company. Citigroup started coverage on HashiCorp in a research report on Tuesday. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th.

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $33.83, for a total transaction of $1,214,632.32. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,421,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO David Mcjannet sold 48,055 shares of HashiCorp 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 $1,598,309.30. Following the sale, the chief executive officer now owns 373,330 shares in the company, valued at $12,416,955.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $33.83, for a total transaction of $1,214,632.32. Following the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,421,600. The disclosure for this sale can be found here. Insiders sold a total of 406,736 shares of company stock worth $13,639,660 over the last three months. 22.49% of the stock is currently owned by company insiders.

Institutional Trading of HashiCorp

Several hedge funds have recently bought and sold shares of the stock. American Capital Advisory LLC bought a new stake in shares of HashiCorp in the second quarter worth about $40,000. Advisors Asset Management Inc. increased its stake in HashiCorp by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock worth $86,000 after acquiring an additional 961 shares during the last quarter. Covestor Ltd raised its holdings in shares of HashiCorp by 12,888.9% during the 1st quarter. Covestor Ltd now owns 3,507 shares of the company’s stock worth $95,000 after acquiring an additional 3,480 shares in the last quarter. Quest Partners LLC boosted its position in shares of HashiCorp by 9,736.1% during the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after acquiring an additional 3,505 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of HashiCorp in the second quarter valued at $208,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.

HashiCorp Price Performance

HashiCorp stock opened at $33.65 on Friday. HashiCorp has a one year low of $18.91 and a one year high of $34.05. The business’s fifty day moving average is $33.68 and its 200 day moving average is $30.99. The stock has a market capitalization of $6.77 billion, a PE ratio of -35.05 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. The firm had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.60%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.34) earnings per share. As a group, sell-side analysts expect that HashiCorp will post -0.82 EPS for the current fiscal year.

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.