JMP Securities reissued their market perform rating on shares of HashiCorp (NASDAQ:HCP - Free Report) in a research note released on Monday morning,Benzinga reports.
Other analysts have also issued research reports about the stock. StockNews.com began coverage on shares of HashiCorp in a research report on Wednesday, December 11th. They issued a "hold" rating on the stock. Citigroup assumed coverage on shares of HashiCorp in a research note on Tuesday, September 3rd. They set a "neutral" rating and a $35.00 price objective for the company. Finally, Piper Sandler restated a "neutral" rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $32.08.
Check Out Our Latest Stock Report on HashiCorp
HashiCorp Stock Performance
HashiCorp stock traded up $0.06 during midday trading on Monday, reaching $33.84. The stock had a trading volume of 2,130,797 shares, compared to its average volume of 2,939,340. The stock has a market capitalization of $6.92 billion, a P/E ratio of -55.39 and a beta of 1.21. The firm's fifty day simple moving average is $33.81 and its 200-day simple moving average is $33.74. HashiCorp has a 1-year low of $20.89 and a 1-year high of $34.21.
Insider Buying and Selling at HashiCorp
In related news, CEO David Mcjannet sold 48,055 shares of HashiCorp stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the completion of the sale, the chief executive officer now owns 419,531 shares of the company's stock, valued at approximately $14,196,929.04. The trade was a 10.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ledger Susan St. sold 22,232 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $33.84, for a total transaction of $752,330.88. Following the completion of the transaction, the insider now directly owns 167,747 shares in the company, valued at approximately $5,676,558.48. This represents a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 352,291 shares of company stock worth $11,912,497 over the last 90 days. Company insiders own 22.49% of the company's stock.
Institutional Trading of HashiCorp
Hedge funds have recently added to or reduced their stakes in the company. Westchester Capital Management LLC raised its stake in HashiCorp by 60.5% in 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 in the last quarter. Pentwater Capital Management LP bought a new position in shares of HashiCorp during the second quarter worth approximately $91,654,000. Geode Capital Management LLC raised its position 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 valued at $85,417,000 after buying an additional 385,118 shares in the last quarter. State Street Corp boosted its stake in shares of HashiCorp by 14.5% in the third quarter. State Street Corp now owns 2,239,850 shares of the company's stock valued at $75,841,000 after buying an additional 282,965 shares during the period. Finally, Alpine Associates Management Inc. grew its position in HashiCorp by 48.7% during the third quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company's stock worth $72,533,000 after buying an additional 701,350 shares in the last quarter. 86.25% of the stock is owned by institutional investors and hedge funds.
HashiCorp Company Profile
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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.
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