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

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

A number of other research firms have also recently commented on HCP. Piper Sandler reiterated a “neutral” rating and issued a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Citigroup began coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target on the stock. Finally, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.08.

HashiCorp Price Performance

NASDAQ:HCP opened at $34.24 on Monday. The company’s 50-day moving average is $33.83 and its two-hundred day moving average is $33.76. HashiCorp has a 1-year low of $20.89 and a 1-year high of $34.33. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of -56.13 and a beta of 1.21.

Insider Buying and Selling at HashiCorp

In other news, CTO Armon Dadgar sold 35,903 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.58, for a total value of $1,205,622.74. Following the completion of the sale, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,041,600. This trade represents a 2.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Mcjannet sold 47,526 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the completion of the sale, the chief executive officer now owns 465,978 shares of the company’s stock, valued at approximately $15,945,767.16. The trade was a 9.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,044 shares of company stock worth $7,694,048. 22.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HashiCorp

A number of institutional investors and hedge funds have recently modified their holdings of HCP. Longfellow Investment Management Co. LLC purchased a new position in HashiCorp during the 3rd quarter valued at about $38,000. American Capital Advisory LLC acquired a new stake in HashiCorp during the 2nd quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HashiCorp during the 3rd quarter valued at $51,000. Quest Partners LLC increased its position in HashiCorp by 9,736.1% during the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock worth $119,000 after buying an additional 3,505 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of HashiCorp by 25.8% in the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after acquiring an additional 731 shares in the last quarter. Institutional investors and hedge funds own 86.25% 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.