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

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

A number of other research firms also recently issued reports on HCP. Piper Sandler restated a "neutral" rating and issued a $35.00 price target on shares of HashiCorp in a research report on Friday, August 30th. JMP Securities reiterated a "market perform" rating on shares of HashiCorp in a research note on Monday, September 16th. Finally, Citigroup started coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a "neutral" rating and a $35.00 target price for the company. 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, the company currently has a consensus rating of "Hold" and an average price target of $32.08.

HashiCorp Trading Down 0.1 %

HCP stock opened at $33.94 on Friday. The company has a market capitalization of $6.89 billion, a P/E ratio of -45.25 and a beta of 1.25. The firm has a 50 day simple moving average of $33.82 and a 200-day simple moving average of $32.35. HashiCorp has a twelve month low of $18.91 and a twelve month high of $34.06.

HashiCorp (NASDAQ:HCP - Get Free Report) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share for the quarter. The company had revenue of $165.14 million during the quarter, compared to analyst estimates of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the business earned ($0.34) EPS. On average, research analysts predict that HashiCorp will post -0.48 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Armon Dadgar sold 35,904 shares of the company's stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $33.50, for a total value of $1,202,784.00. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company's stock, valued at approximately $50,920,000. 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 related news, CMO Marc Holmes sold 13,782 shares of HashiCorp stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $33.81, for a total transaction of $465,969.42. Following the transaction, the chief marketing officer now directly owns 8,754 shares of the company's stock, valued at $295,972.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the company's stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $33.50, for a total transaction of $1,202,784.00. Following the completion of the sale, the chief technology officer now directly owns 1,520,000 shares of the company's stock, valued at $50,920,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 390,125 shares of company stock worth $13,178,494. 22.49% of the stock is owned by company insiders.

Institutional Trading of HashiCorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HashiCorp in the 3rd quarter worth $51,000. Wedmont Private Capital acquired a new position in shares of HashiCorp in the 3rd quarter valued at $344,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in HashiCorp by 2,195.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 968,500 shares of the company's stock worth $32,629,000 after purchasing an additional 926,300 shares in the last quarter. University of Texas Texas AM Investment Management Co. raised its holdings in HashiCorp by 298.0% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 397,124 shares of the company's stock worth $13,379,000 after buying an additional 297,341 shares during the period. Finally, Water Island Capital LLC acquired a new position in shares of HashiCorp in the second quarter worth about $37,762,000. 87.83% of the stock is currently owned by institutional investors.

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.