StockNews.com Initiates Coverage on HashiCorp (NASDAQ:HCP)

Stock analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Monday. The firm set a “hold” rating on the stock.

HCP has been the topic of a number of other reports. Citigroup began coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 price objective on the stock. Piper Sandler reiterated a “neutral” rating and issued a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Finally, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Stock Down 0.1 %

Shares of NASDAQ:HCP opened at $33.84 on Monday. The business’s 50 day moving average is $33.77 and its 200 day moving average is $32.05. The stock has a market cap of $6.80 billion, a P/E ratio of -35.26 and a beta of 1.25. HashiCorp has a 52-week low of $18.91 and a 52-week high of $34.06.

HashiCorp (NASDAQ:HCP) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.08 EPS for the quarter. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. During the same quarter last year, the firm posted ($0.34) earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that HashiCorp will post -0.48 EPS for the current fiscal year.

Insider Transactions at HashiCorp

In related news, CFO Navam Welihinda sold 5,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total value of $167,500.00. Following the completion of the transaction, the chief financial officer now directly owns 91,485 shares in the company, valued at approximately $3,064,747.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $33.80, for a total value of $1,213,555.20. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,376,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 91,485 shares of the company’s stock, valued at $3,064,747.50. The disclosure for this sale can be found here. Insiders have sold 368,137 shares of company stock valued at $12,429,132 in the last 90 days. 22.49% of the stock is currently owned by company insiders.

Institutional Trading of HashiCorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of HashiCorp by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after buying an additional 1,501,953 shares during the period. Whale Rock Capital Management LLC lifted its stake in HashiCorp by 293.2% in the first quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after acquiring an additional 3,404,557 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in HashiCorp by 53.3% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after buying an additional 1,161,600 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. lifted its position in shares of HashiCorp by 50.0% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after buying an additional 949,100 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in HashiCorp by 35.7% in the fourth quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock valued at $64,350,000 after acquiring an additional 716,574 shares during the last quarter. Hedge funds and other institutional investors 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.