HashiCorp (NASDAQ:HCP) Earns Hold Rating from Needham & Company LLC

HashiCorp (NASDAQ:HCP)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports.

HCP has been the topic of a number of other research reports. BTIG Research lowered HashiCorp from a “buy” rating to a “neutral” rating in a report on Wednesday. Citigroup increased their price target on HashiCorp from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 22nd. TD Cowen increased their price target on HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Bank of America increased their price target on HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Stifel Nicolaus increased their price target on HashiCorp from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, HashiCorp has a consensus rating of “Hold” and an average price target of $29.69.

HashiCorp Stock Performance

Shares of NASDAQ:HCP opened at $31.41 on Thursday. The business’s 50 day simple moving average is $25.73 and its two-hundred day simple moving average is $23.30. The firm has a market cap of $6.27 billion, a P/E ratio of -32.05 and a beta of 1.42. HashiCorp has a 52-week low of $18.91 and a 52-week high of $36.39.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping 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. On average, equities analysts forecast that HashiCorp will post -0.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Navam Welihinda sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $27.84, for a total value of $83,520.00. Following the completion of the transaction, the chief financial officer now directly owns 93,925 shares in the company, valued at approximately $2,614,872. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $21.82, for a total transaction of $783,425.28. Following the completion of the sale, the chief technology officer now directly owns 1,768,876 shares in the company, valued at approximately $38,596,874.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Navam Welihinda sold 3,000 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $27.84, for a total value of $83,520.00. Following the sale, the chief financial officer now owns 93,925 shares of the company’s stock, valued at $2,614,872. The disclosure for this sale can be found here. Insiders sold a total of 263,077 shares of company stock worth $6,597,742 over the last ninety days. 26.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Diversified Trust Co bought a new position in HashiCorp during the 1st quarter valued at approximately $416,000. Artemis Investment Management LLP raised its position in HashiCorp by 416.0% during the 1st quarter. Artemis Investment Management LLP now owns 1,555,104 shares of the company’s stock valued at $41,891,000 after purchasing an additional 1,253,723 shares during the last quarter. Renaissance Capital LLC raised its position in HashiCorp by 3.0% during the 1st quarter. Renaissance Capital LLC now owns 63,964 shares of the company’s stock valued at $1,724,000 after purchasing an additional 1,857 shares during the last quarter. Vanguard Group Inc. raised its position in HashiCorp by 10.3% during the 4th quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company’s stock valued at $253,484,000 after purchasing an additional 999,671 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. bought a new position in HashiCorp during the 4th quarter valued at approximately $2,359,000. 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.