HashiCorp (NASDAQ:HCP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a report issued on Tuesday morning. The firm issued a hold rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler reiterated a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup assumed coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price objective on the stock. Finally, JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, HashiCorp has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Stock Performance

HCP stock opened at $34.22 on Tuesday. The firm has a fifty day moving average price of $33.82 and a 200 day moving average price of $33.75. HashiCorp has a fifty-two week low of $20.89 and a fifty-two week high of $34.26. The firm has a market cap of $7.00 billion, a PE ratio of -56.10 and a beta of 1.21.

Insider Buying and Selling at HashiCorp

In related news, CMO Marc Holmes sold 13,782 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total transaction of $465,969.42. Following the sale, the chief marketing officer now owns 8,754 shares of the company’s stock, valued at $295,972.74. This trade represents a 61.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $33.84, for a total transaction of $1,214,991.36. Following the sale, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at approximately $51,436,800. The trade was a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 229,204 shares of company stock valued at $7,747,233 in the last ninety days. Corporate insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its stake in HashiCorp by 14.5% during the 3rd quarter. State Street Corp now owns 2,239,850 shares of the company’s stock valued at $75,841,000 after purchasing an additional 282,965 shares in the last quarter. New York Life Investment Management LLC purchased a new stake in shares of HashiCorp during the second quarter valued at $11,407,000. K2 Principal Fund L.P. acquired a new position in shares of HashiCorp in the 2nd quarter valued at $2,966,000. Alpine Associates Management Inc. raised its stake in HashiCorp by 48.7% in the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock worth $72,533,000 after acquiring an additional 701,350 shares during the last quarter. Finally, Versor Investments LP lifted its position in HashiCorp by 518.9% during the 3rd quarter. Versor Investments LP now owns 157,725 shares of the company’s stock worth $5,341,000 after acquiring an additional 132,239 shares during the period. Hedge funds and other institutional investors own 86.25% 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.