Brokerages Set HashiCorp, Inc. (NASDAQ:HCP) PT at $32.08

Shares of HashiCorp, Inc. (NASDAQ:HCP - Get Free Report) have been assigned a consensus rating of "Hold" from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $32.08.

HCP has been the topic of a number of research analyst reports. StockNews.com assumed coverage on HashiCorp in a research report on Monday. They set a "hold" rating on the stock. Piper Sandler reiterated a "neutral" rating and set a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th. Citigroup began coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a "neutral" rating and a $35.00 price target on the stock. Finally, JMP Securities restated a "market perform" rating on shares of HashiCorp in a research note on Monday, September 16th.

HashiCorp Stock Down 0.3 %

Shares of NASDAQ HCP traded down $0.09 during trading on Thursday, reaching $33.91. 1,046,696 shares of the stock were exchanged, compared to its average volume of 3,036,833. HashiCorp has a twelve month low of $19.26 and a twelve month high of $34.21. The business's 50-day moving average price is $33.87 and its 200 day moving average price is $33.63. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of -45.27 and a beta of 1.24.

HashiCorp (NASDAQ:HCP - Get Free Report) last posted its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $165.14 million for the quarter, compared to analysts' expectations of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business posted ($0.34) earnings per share. As a group, sell-side analysts expect that HashiCorp will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other HashiCorp news, CFO Navam Welihinda sold 5,000 shares of the business'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 in the company, valued at $2,991,466.14. The trade was a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Marc Holmes sold 13,916 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $33.80, for a total transaction of $470,360.80. Following the completion of the sale, the chief marketing officer now directly owns 4,368 shares in the company, valued at $147,638.40. This trade represents a 76.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 371,209 shares of company stock valued at $12,559,456. 22.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HCP. Vanguard Group Inc. boosted its stake in HashiCorp by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company's stock worth $329,454,000 after purchasing an additional 1,501,953 shares in the last quarter. Whale Rock Capital Management LLC raised its holdings in shares of HashiCorp by 293.2% during the 1st 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 period. Jericho Capital Asset Management L.P. raised its position in shares of 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 valued at $89,985,000 after buying an additional 1,161,600 shares during the period. Westchester Capital Management LLC boosted its stake in HashiCorp by 60.5% during the third quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company's stock worth $108,363,000 after buying an additional 1,206,073 shares during the period. Finally, Pentwater Capital Management LP purchased a new position in shares of HashiCorp during the second quarter worth $91,654,000. 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.