HashiCorp, Inc. (NASDAQ:HCP) Receives $32.08 Average PT from Brokerages

Shares of HashiCorp, Inc. (NASDAQ:HCP - Get Free Report) have been given an average recommendation of "Hold" by the fourteen brokerages that are presently covering the company, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $32.08.

A number of brokerages have weighed in on HCP. StockNews.com upgraded shares of HashiCorp from a "hold" rating to a "buy" rating in a research report on Monday, January 13th. JMP Securities reaffirmed a "market perform" rating on shares of HashiCorp in a report on Monday, December 16th.

HashiCorp Stock Performance

NASDAQ:HCP traded down $0.02 during trading hours on Tuesday, reaching $34.23. The stock had a trading volume of 1,940,256 shares, compared to its average volume of 2,390,841. The stock has a market cap of $7.00 billion, a P/E ratio of -56.07 and a beta of 1.18. The stock has a 50 day simple moving average of $34.07 and a 200 day simple moving average of $33.89. HashiCorp has a 12-month low of $21.50 and a 12-month high of $34.47.

Insiders Place Their Bets

In other news, CTO Armon Dadgar sold 35,903 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $33.90, for a total value of $1,217,111.70. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company's stock, valued at approximately $51,528,000. This represents a 2.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction that occurred on 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 represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 173,036 shares of company stock worth $5,874,078. 22.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HashiCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Xponance Inc. lifted its stake in HashiCorp by 3.1% during the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company's stock valued at $346,000 after acquiring an additional 305 shares during the period. Principal Financial Group Inc. raised its holdings in shares of HashiCorp by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 11,913 shares of the company's stock valued at $408,000 after purchasing an additional 397 shares during the last quarter. KBC Group NV lifted its position 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 period. Victory Capital Management Inc. boosted its holdings in HashiCorp by 4.8% in the third quarter. Victory Capital Management Inc. now owns 19,090 shares of the company's stock worth $646,000 after purchasing an additional 873 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC bought a new stake in HashiCorp in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 86.25% 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.