HashiCorp (NASDAQ:HCP) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCP) from a sell rating to a hold rating in a research report released on Tuesday morning.

Other equities research analysts have also issued research reports about the stock. Oppenheimer reissued an outperform rating and issued a $34.00 price objective on shares of HashiCorp in a research report on Wednesday, March 6th. JMP Securities reissued a market outperform rating and issued a $38.00 price objective on shares of HashiCorp in a research report on Thursday, March 7th. Stifel Nicolaus upped their target price on HashiCorp from $26.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. BTIG Research raised their target price on HashiCorp from $25.00 to $27.00 and gave the company a buy rating in a report on Wednesday, March 6th. Finally, Piper Sandler restated a neutral rating and issued a $25.00 price target (up previously from $22.00) on shares of HashiCorp in a report on Wednesday, March 6th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, HashiCorp presently has a consensus rating of Moderate Buy and a consensus price target of $28.77.

HashiCorp Trading Up 0.4 %

Shares of HCP opened at $23.63 on Tuesday. The stock’s fifty day simple moving average is $25.49 and its 200 day simple moving average is $23.17. HashiCorp has a twelve month low of $18.91 and a twelve month high of $36.39. The firm has a market capitalization of $4.72 billion, a P/E ratio of -24.11 and a beta of 1.42.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. Sell-side analysts predict that HashiCorp will post -0.8 earnings per share for the current year.

Insider Activity at HashiCorp

In other news, CFO Navam Welihinda sold 2,500 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $21.95, for a total transaction of $54,875.00. Following the transaction, the chief financial officer now owns 62,844 shares of the company’s stock, valued at $1,379,425.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of HashiCorp stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $21.94, for a total value of $787,733.76. Following the completion of the transaction, the chief technology officer now owns 1,840,684 shares of the company’s stock, valued at $40,384,606.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Navam Welihinda sold 2,500 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $21.95, for a total transaction of $54,875.00. Following the sale, the chief financial officer now owns 62,844 shares of the company’s stock, valued at approximately $1,379,425.80. The disclosure for this sale can be found here. Insiders have sold 262,577 shares of company stock valued at $6,484,004 over the last ninety days. Corporate insiders own 26.13% of the company’s stock.

Institutional Trading of HashiCorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. boosted its position in HashiCorp by 167.6% during the 4th quarter. Citigroup Inc. now owns 918 shares of the company’s stock valued at $25,000 after purchasing an additional 575 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of HashiCorp during the first quarter valued at $33,000. Tower Research Capital LLC TRC boosted its holdings in shares of HashiCorp by 82.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company’s stock valued at $39,000 after acquiring an additional 766 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of HashiCorp by 94.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,761 shares of the company’s stock worth $40,000 after acquiring an additional 857 shares during the period. Finally, Osaic Holdings Inc. lifted its position in HashiCorp by 188.1% in the 2nd quarter. Osaic Holdings Inc. now owns 1,769 shares of the company’s stock valued at $46,000 after purchasing an additional 1,155 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.