HashiCorp (NASDAQ:HCP) Earns Hold Rating from Analysts at StockNews.com

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

A number of other research analysts also recently commented on HCP. Citigroup began coverage on HashiCorp in a research note on Tuesday, September 3rd. They issued a "neutral" rating and a $35.00 price target for the company. Piper Sandler restated a "neutral" rating and issued a $35.00 target price on shares of HashiCorp in a research report on Friday, August 30th. Finally, JMP Securities restated a "market perform" rating on shares of HashiCorp in a research report on Monday, September 16th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $32.08.

HashiCorp Trading Down 0.0 %

HCP stock traded down $0.01 during trading hours on Wednesday, hitting $33.90. 501,440 shares of the stock were exchanged, compared to its average volume of 3,126,520. The company has a 50-day simple moving average of $33.85 and a two-hundred day simple moving average of $33.12. The firm has a market capitalization of $6.82 billion, a P/E ratio of -35.32 and a beta of 1.25. HashiCorp has a 12 month low of $18.91 and a 12 month high of $34.06.

HashiCorp (NASDAQ:HCP - Get Free Report) last announced its earnings results on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $165.14 million for 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 business's revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.34) EPS. On average, equities research analysts predict that HashiCorp will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $33.66, for a total value of $468,412.56. Following the completion of the sale, the chief marketing officer now owns 4,368 shares of the company's stock, valued at approximately $147,026.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CTO Armon Dadgar sold 35,904 shares of the business's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $33.71, for a total value of $1,210,323.84. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at $51,239,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of HashiCorp stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $33.66, for a total value of $468,412.56. Following the completion of the transaction, the chief marketing officer now directly owns 4,368 shares of the company's stock, valued at approximately $147,026.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 385,125 shares of company stock valued at $13,022,483 in the last three months. Insiders own 22.49% of the company's stock.

Institutional Investors Weigh In On HashiCorp

Several large investors have recently added to or reduced their stakes in HCP. Swiss National Bank increased its stake in HashiCorp by 11.8% in the first quarter. Swiss National Bank now owns 221,600 shares of the company's stock valued at $5,972,000 after purchasing an additional 23,400 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in HashiCorp in the first quarter worth approximately $1,070,000. Bessemer Group Inc. acquired a new stake in HashiCorp in the first quarter valued at approximately $649,000. Vanguard Group Inc. increased its holdings in shares of HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company's stock valued at $329,454,000 after acquiring an additional 1,501,953 shares in the last quarter. Finally, New York Life Investment Management LLC acquired a new position in shares of HashiCorp during the second quarter worth approximately $11,407,000. Institutional investors and hedge funds own 87.83% of the company's stock.

HashiCorp Company Profile

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.