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

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

Several equities research analysts recently issued reports on the company. Piper Sandler reissued a "neutral" rating and issued a $35.00 price objective on shares of HashiCorp in a research note on Friday, August 30th. JMP Securities reissued a "market perform" rating on shares of HashiCorp in a research note on Monday, September 16th. StockNews.com assumed coverage on HashiCorp in a research note on Friday. They issued a "hold" rating for the company. Finally, Citigroup assumed coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a "neutral" rating and a $35.00 price objective for the company.

Insider Activity

In other news, CEO David Mcjannet sold 48,055 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $33.84, for a total transaction of $1,626,181.20. Following the transaction, the chief executive officer now owns 419,531 shares of the company's stock, valued at approximately $14,196,929.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other HashiCorp news, CTO Armon Dadgar sold 35,904 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $33.84, for a total value of $1,214,991.36. Following the sale, the chief technology officer now owns 1,520,000 shares of the company's stock, valued at $51,436,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Mcjannet sold 48,055 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $33.84, for a total value of $1,626,181.20. Following the completion of the sale, the chief executive officer now directly owns 419,531 shares in the company, valued at $14,196,929.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 390,125 shares of company stock valued at $13,178,494. Insiders own 22.49% of the company's stock.

Institutional Trading of HashiCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCP. Vanguard Group Inc. grew its holdings in HashiCorp by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 10,722,671 shares of the company's stock valued at $253,484,000 after buying an additional 999,671 shares during the last quarter. Artemis Investment Management LLP lifted its position in shares of HashiCorp by 416.0% in the 1st quarter. Artemis Investment Management LLP now owns 1,555,104 shares of the company's stock worth $41,891,000 after acquiring an additional 1,253,723 shares during the period. Diversified Trust Co bought a new stake in shares of HashiCorp in the 1st quarter worth approximately $416,000. Perigon Wealth Management LLC lifted its position in shares of HashiCorp by 26.9% in the 1st quarter. Perigon Wealth Management LLC now owns 121,456 shares of the company's stock worth $3,273,000 after acquiring an additional 25,770 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of HashiCorp by 190.2% in the 1st quarter. SG Americas Securities LLC now owns 71,228 shares of the company's stock worth $1,920,000 after acquiring an additional 46,684 shares during the period. Institutional investors and hedge funds own 87.83% of the company's stock.

HashiCorp Stock Down 0.1 %

Shares of NASDAQ HCP traded down $0.05 during mid-day trading on Friday, hitting $33.74. 916,439 shares of the company traded hands, compared to its average volume of 3,187,277. HashiCorp has a 1 year low of $18.91 and a 1 year high of $34.06. The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of -35.15 and a beta of 1.25. The business has a 50 day moving average of $33.85 and a two-hundred day moving average of $32.74.

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

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.