HashiCorp, Inc. (NASDAQ:HCP) Given Average Recommendation of “Hold” by Brokerages

Shares of HashiCorp, Inc. (NASDAQ:HCP) have earned an average rating of “Hold” from the fourteen brokerages that are presently covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $32.08.

HCP has been the subject of several recent research reports. JMP Securities restated a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com started coverage on shares of HashiCorp in a research note on Sunday, December 29th. They set a “hold” rating for the company.

HashiCorp Price Performance

Shares of HCP opened at $34.33 on Friday. The stock has a 50-day moving average of $33.95 and a 200-day moving average of $33.82. HashiCorp has a one year low of $20.89 and a one year high of $34.46. The company has a market cap of $7.02 billion, a PE ratio of -56.28 and a beta of 1.18.

Insider Transactions at HashiCorp

In other HashiCorp news, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.22, for a total value of $1,626,339.72. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Armon Dadgar sold 35,903 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.58, for a total transaction of $1,205,622.74. Following the transaction, the chief technology officer now directly owns 1,520,000 shares of the company’s stock, valued at $51,041,600. This represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,940 shares of company stock worth $7,088,351 in the last 90 days. Insiders own 22.49% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Several institutional investors have recently bought and sold shares of the company. Longfellow Investment Management Co. LLC bought a new stake in shares of HashiCorp in the third quarter valued at $38,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HashiCorp in the 3rd quarter valued at about $51,000. Quest Partners LLC raised its stake in HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after acquiring an additional 3,505 shares during the period. KBC Group NV lifted its holdings in HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after purchasing an additional 731 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV purchased a new position in shares of HashiCorp in the third quarter worth about $205,000. Hedge funds and other institutional investors 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.