HashiCorp (NASDAQ:HCP) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCP) from a hold rating to a buy rating in a research report released on Monday.

Separately, JMP Securities reissued a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.08.

HashiCorp Trading Down 0.2 %

Shares of HCP opened at $34.30 on Monday. The firm has a 50-day simple moving average of $33.98 and a two-hundred day simple moving average of $33.84. HashiCorp has a 1-year low of $20.89 and a 1-year high of $34.47.

Insider Activity at HashiCorp

In related news, CEO David Mcjannet sold 47,526 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total value of $1,626,339.72. Following the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Armon Dadgar sold 17,800 shares of HashiCorp stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $34.23, for a total value of $609,294.00. Following the sale, the chief technology officer now directly owns 31,348 shares of the company’s stock, valued at $1,073,042.04. This trade represents a 36.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 208,940 shares of company stock worth $7,088,351. Company insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

Several institutional investors have recently added to or reduced their stakes in the business. Longfellow Investment Management Co. LLC purchased a new stake in shares of HashiCorp during the 3rd quarter worth approximately $38,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HashiCorp during the third quarter worth about $51,000. Quest Partners LLC boosted its position in shares of HashiCorp by 9,736.1% in the 2nd quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after purchasing an additional 3,505 shares during the period. KBC Group NV grew its stake in HashiCorp by 25.8% during the 3rd quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after buying an additional 731 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV purchased a new stake in HashiCorp in the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 86.25% of the company’s stock.

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.