HashiCorp, Inc. (NASDAQ:HCP) Receives Average Rating of "Hold" from Brokerages

Shares of HashiCorp, Inc. (NASDAQ:HCP - Get Free Report) have received a consensus rating of "Hold" from the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $32.08.

Several equities analysts recently weighed in on HCP shares. JMP Securities reiterated a "market perform" rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com began coverage on shares of HashiCorp in a research note on Sunday, December 29th. They issued a "hold" rating on the stock.

Insider Transactions at HashiCorp

In other 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 in the company, valued at $15,945,767.16. This trade represents a 9.26 % 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 17,800 shares of the business's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $34.23, for a total transaction of $609,294.00. Following the sale, the chief technology officer now directly owns 31,348 shares of the company's stock, valued at $1,073,042.04. This represents a 36.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,940 shares of company stock valued at $7,088,351 in the last ninety days. 22.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HashiCorp

Several institutional investors have recently bought and sold shares of HCP. Westchester Capital Management LLC boosted its stake in HashiCorp by 60.5% during the 3rd quarter. Westchester Capital Management LLC now owns 3,200,322 shares of the company's stock worth $108,363,000 after purchasing an additional 1,206,073 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of HashiCorp by 18.0% in the third quarter. Geode Capital Management LLC now owns 2,522,002 shares of the company's stock worth $85,417,000 after buying an additional 385,118 shares in the last quarter. State Street Corp boosted its position in HashiCorp by 14.5% during the third quarter. State Street Corp now owns 2,239,850 shares of the company's stock worth $75,841,000 after acquiring an additional 282,965 shares during the last quarter. Alpine Associates Management Inc. grew its stake in HashiCorp by 48.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company's stock valued at $72,533,000 after acquiring an additional 701,350 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in HashiCorp in the 2nd quarter valued at about $71,490,000. 86.25% of the stock is currently owned by institutional investors and hedge funds.

HashiCorp Trading Up 0.6 %

Shares of HCP stock traded up $0.21 during mid-day trading on Friday, reaching $34.38. The stock had a trading volume of 2,306,722 shares, compared to its average volume of 2,534,111. HashiCorp has a 1-year low of $20.89 and a 1-year high of $34.39. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of -56.36 and a beta of 1.18. The business's fifty day moving average is $33.92 and its 200-day moving average is $33.79.

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.