HashiCorp (NASDAQ:HCP) Coverage Initiated by Analysts at StockNews.com

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

Other research analysts also recently issued reports about the stock. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Thursday, June 6th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.17.

HashiCorp Stock Performance

NASDAQ HCP opened at $33.94 on Friday. The firm’s 50 day moving average price is $33.65 and its two-hundred day moving average price is $30.74. HashiCorp has a twelve month low of $18.91 and a twelve month high of $34.05. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -35.35 and a beta of 1.25.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $165.14 million for the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative return on equity of 10.60% and a negative net margin of 23.69%. HashiCorp’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.34) earnings per share. On average, research analysts forecast that HashiCorp will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other HashiCorp news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $33.74, for a total transaction of $469,525.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Marc Holmes sold 13,916 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $33.74, for a total value of $469,525.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Navam Welihinda sold 5,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $33.87, for a total transaction of $169,350.00. Following the transaction, the chief financial officer now owns 88,322 shares of the company’s stock, valued at $2,991,466.14. The disclosure for this sale can be found here. Insiders sold 370,832 shares of company stock valued at $12,425,028 over the last 90 days. 22.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HashiCorp

A number of institutional investors have recently added to or reduced their stakes in HCP. Water Island Capital LLC acquired a new stake in shares of HashiCorp during the 2nd quarter worth approximately $37,762,000. Algert Global LLC increased its holdings in HashiCorp by 13.6% in the 2nd quarter. Algert Global LLC now owns 75,676 shares of the company’s stock valued at $2,550,000 after buying an additional 9,036 shares during the period. Murchinson Ltd. bought a new stake in HashiCorp in the 2nd quarter valued at $3,369,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of HashiCorp in the 2nd quarter valued at $5,384,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of HashiCorp by 27.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,381 shares of the company’s stock worth $1,024,000 after acquiring an additional 6,506 shares during the period. 87.83% of the stock is 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.