HashiCorp, Inc. (NASDAQ:HCP) Receives Average Recommendation of “Hold” from Brokerages

Shares of HashiCorp, Inc. (NASDAQ:HCP) have earned an average recommendation of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $32.27.

Several research analysts recently commented on HCP shares. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a report on Monday, December 16th. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th.

HashiCorp Stock Down 0.1 %

NASDAQ HCP opened at $34.78 on Friday. The company has a market cap of $7.11 billion, a PE ratio of -57.02 and a beta of 1.18. The firm’s 50-day simple moving average is $34.29 and its two-hundred day simple moving average is $33.99. HashiCorp has a 52 week low of $23.00 and a 52 week high of $34.85.

Insiders Place Their Bets

In other news, CTO Armon Dadgar sold 35,903 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.58, for a total value of $1,205,622.74. Following the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at $51,041,600. This represents a 2.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Mcjannet sold 47,526 shares of HashiCorp stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the sale, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at $15,945,767.16. This represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,229 shares of company stock worth $3,441,256 in the last ninety days. 22.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HashiCorp

Several institutional investors have recently modified their holdings of HCP. Longfellow Investment Management Co. LLC purchased a new stake in HashiCorp in the third quarter worth approximately $38,000. Blue Trust Inc. lifted its holdings in shares of HashiCorp by 331.2% in the 4th quarter. Blue Trust Inc. now owns 2,057 shares of the company’s stock worth $70,000 after acquiring an additional 1,580 shares during the last quarter. KBC Group NV boosted its stake in shares of HashiCorp by 25.8% in the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock valued at $121,000 after purchasing an additional 731 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of HashiCorp by 16.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,627 shares of the company’s stock valued at $124,000 after purchasing an additional 524 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in shares of HashiCorp by 64.8% during the 3rd quarter. Quest Partners LLC now owns 5,837 shares of the company’s stock valued at $198,000 after purchasing an additional 2,296 shares during the last quarter. 86.25% of the stock is currently owned by institutional investors.

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.