HashiCorp (NASDAQ:HCP) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP - Get Free Report) in a report issued on Wednesday. The brokerage set a "hold" rating on the stock.

Other equities analysts also recently issued reports about the company. 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. JMP Securities reissued a "market perform" rating on shares of HashiCorp in a report on Monday, September 16th. Finally, Piper Sandler reissued a "neutral" rating and set a $35.00 price target on shares of HashiCorp in a report on Friday, August 30th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $32.08.

HashiCorp Stock Up 0.4 %

Shares of HashiCorp stock traded up $0.14 on Wednesday, reaching $33.76. The company's stock had a trading volume of 2,533,178 shares, compared to its average volume of 2,942,733. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of -55.34 and a beta of 1.21. The firm's fifty day simple moving average is $33.82 and its two-hundred day simple moving average is $33.74. HashiCorp has a 52 week low of $20.42 and a 52 week high of $34.21.

Insider Transactions at HashiCorp

In other HashiCorp news, CMO Marc Holmes sold 11,854 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $401,139.36. Following the sale, the chief marketing officer now owns 22,536 shares of the company's stock, valued at approximately $762,618.24. This trade represents a 34.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 22,779 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $770,841.36. Following the sale, the chief technology officer now directly owns 44,934 shares in the company, valued at $1,520,566.56. This trade represents a 33.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 352,291 shares of company stock worth $11,912,497. 22.49% of the stock is currently owned by company insiders.

Institutional Trading of HashiCorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank raised its stake in HashiCorp by 2.1% in the 1st quarter. Comerica Bank now owns 18,432 shares of the company's stock worth $497,000 after acquiring an additional 374 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of HashiCorp during the 1st quarter valued at about $379,000. CWM LLC raised its stake in shares of HashiCorp by 311.1% during the 2nd quarter. CWM LLC now owns 8,127 shares of the company's stock valued at $274,000 after buying an additional 6,150 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of HashiCorp by 6,183.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,011,428 shares of the company's stock valued at $34,075,000 after acquiring an additional 995,332 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of HashiCorp by 42.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 675,550 shares of the company's stock valued at $22,759,000 after acquiring an additional 200,837 shares during the period. 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.