StockNews.com began coverage on shares of HashiCorp (NASDAQ:HCP - Free Report) in a research report released on Friday morning. The brokerage issued a hold rating on the stock.
Several other equities research analysts also recently weighed in on the company. Citigroup assumed coverage on HashiCorp in a report on Tuesday, September 3rd. They issued a "neutral" rating and a $35.00 price objective for the company. Piper Sandler reissued a "neutral" rating and issued a $35.00 price objective on shares of HashiCorp in a report on Friday, August 30th. Finally, JMP Securities reissued a "market perform" rating on shares of HashiCorp in a report on Monday, September 16th. 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 currently has an average rating of "Hold" and an average price target of $32.08.
Get Our Latest Analysis on HashiCorp
HashiCorp Stock Performance
HCP traded up $0.04 on Friday, reaching $33.62. The company's stock had a trading volume of 589,193 shares, compared to its average volume of 2,974,547. The stock has a 50 day moving average of $33.85 and a two-hundred day moving average of $33.70. HashiCorp has a fifty-two week low of $19.26 and a fifty-two week high of $34.21.
HashiCorp (NASDAQ:HCP - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $157.22 million. HashiCorp had a negative return on equity of 10.54% and a negative net margin of 23.69%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.34) earnings per share. Research analysts predict that HashiCorp will post -0.48 EPS for the current fiscal year.
Insider Buying and Selling at HashiCorp
In other HashiCorp news, CTO Armon Dadgar sold 35,903 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $33.90, for a total value of $1,217,111.70. Following the sale, the chief technology officer now owns 1,520,000 shares of the company's stock, valued at approximately $51,528,000. This represents a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Mcjannet sold 48,055 shares of the company's stock in a transaction 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 10.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 366,208 shares of company stock valued at $12,391,868. Insiders own 22.49% of the company's stock.
Institutional Trading of HashiCorp
A number of large investors have recently made changes to their positions in HCP. Pentwater Capital Management LP acquired a new stake in shares of HashiCorp during the second quarter valued at $91,654,000. Magnetar Financial LLC acquired a new stake in shares of HashiCorp during the second quarter valued at $71,490,000. ING Groep NV boosted its stake in shares of HashiCorp by 851.2% during the third quarter. ING Groep NV now owns 1,671,200 shares of the company's stock valued at $56,587,000 after acquiring an additional 1,495,500 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in shares of HashiCorp during the second quarter valued at $48,541,000. Finally, Westchester Capital Management LLC boosted 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 buying an additional 1,206,073 shares during the last quarter. Institutional investors and hedge funds own 87.83% of the company's stock.
About HashiCorp
(
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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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