StockNews.com Initiates Coverage on HashiCorp (NASDAQ:HCP)

Research analysts at StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research report on Monday, September 16th. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price objective on shares of HashiCorp in a research report on Friday, August 30th. Finally, Citigroup started coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They issued a “neutral” rating and a $35.00 price target for the company. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, HashiCorp presently has a consensus rating of “Hold” and an average price target of $32.08.

HashiCorp Stock Up 0.6 %

NASDAQ:HCP opened at $34.07 on Tuesday. The company has a market cap of $6.91 billion, a price-to-earnings ratio of -45.43 and a beta of 1.24. The company has a fifty day simple moving average of $33.86 and a two-hundred day simple moving average of $33.49. HashiCorp has a 52 week low of $19.26 and a 52 week high of $34.11.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $165.14 million during the quarter, compared to analysts’ expectations of $157.22 million. HashiCorp had a negative net margin of 23.69% and a negative return on equity of 10.54%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.34) EPS. On average, analysts expect that HashiCorp will post -0.48 EPS for the current year.

Insider Activity

In other news, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were 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 directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CMO Marc Holmes sold 13,916 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $33.66, for a total transaction of $468,412.56. Following the transaction, the chief marketing officer now directly owns 4,368 shares in the company, valued at $147,026.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $33.86, for a total transaction of $1,215,709.44. Following the transaction, the chief technology officer now owns 1,520,000 shares in the company, valued at approximately $51,467,200. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 385,125 shares of company stock valued at $13,027,869. Insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HCP. SG Americas Securities LLC increased its stake in shares of HashiCorp by 190.2% during the first 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. Swiss National Bank increased its stake in shares of HashiCorp by 11.8% during the first quarter. Swiss National Bank now owns 221,600 shares of the company’s stock worth $5,972,000 after acquiring an additional 23,400 shares during the period. Entropy Technologies LP acquired a new position in shares of HashiCorp during the first quarter worth about $311,000. Vanguard Group Inc. grew its position in HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock worth $329,454,000 after buying an additional 1,501,953 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in HashiCorp during the first quarter worth about $457,000. 87.83% of the stock is currently owned by institutional investors and hedge funds.

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.