HashiCorp (NASDAQ:HCP) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a report published on Thursday. The brokerage issued a hold rating on the stock.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC restated a hold rating on shares of HashiCorp in a report on Thursday, April 25th. Truist Financial restated a hold rating and issued a $35.00 price target (up from $27.00) on shares of HashiCorp in a report on Thursday, April 25th. Scotiabank restated a sector perform rating and issued a $35.00 price target (up from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. Bank of America upped their price target on shares of HashiCorp from $28.00 to $32.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. Finally, Piper Sandler upped their price target on shares of HashiCorp from $25.00 to $35.00 and gave the stock a neutral rating in a report on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $31.17.

HashiCorp Stock Down 0.3 %

HashiCorp stock opened at $33.67 on Thursday. The company has a market cap of $6.77 billion, a price-to-earnings ratio of -35.07 and a beta of 1.25. The firm’s fifty day moving average is $33.59 and its 200 day moving average is $29.22. HashiCorp has a 52-week low of $18.91 and a 52-week high of $34.05.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. The company had revenue of $160.58 million for 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%. On average, equities research analysts anticipate that HashiCorp will post -0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total transaction of $167,500.00. Following the completion of the transaction, the chief financial officer now directly owns 91,485 shares of the company’s stock, valued at approximately $3,064,747.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total transaction of $1,202,784.00. Following the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $50,920,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Navam Welihinda sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $33.50, for a total transaction of $167,500.00. Following the sale, the chief financial officer now directly owns 91,485 shares in the company, valued at approximately $3,064,747.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,916 shares of company stock valued at $11,933,500. 22.49% of the stock is owned by insiders.

Institutional Investors Weigh In On HashiCorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in HashiCorp by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,926 shares of the company’s stock valued at $14,821,000 after acquiring an additional 63,879 shares during the period. TimesSquare Capital Management LLC grew its stake in HashiCorp by 10.4% in the 4th quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock valued at $63,775,000 after acquiring an additional 254,720 shares during the period. Swiss National Bank grew its stake in HashiCorp by 11.8% in the 1st quarter. Swiss National Bank now owns 221,600 shares of the company’s stock valued at $5,972,000 after acquiring an additional 23,400 shares during the period. Contour Asset Management LLC acquired a new stake in HashiCorp in the 4th quarter valued at $21,217,000. Finally, GGV Capital LLC grew its stake in HashiCorp by 4.6% in the 4th quarter. GGV Capital LLC now owns 658,990 shares of the company’s stock valued at $15,579,000 after acquiring an additional 29,064 shares during the period. 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.