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

HashiCorp, Inc. (NASDAQ:HCP) has earned an average rating of “Hold” from the nine analysts that are covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $34.40.

Several research analysts have recently issued reports on the company. StockNews.com upgraded HashiCorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of HashiCorp in a research report on Monday, December 16th.

HashiCorp Stock Performance

NASDAQ HCP opened at $34.78 on Wednesday. The stock has a fifty day moving average of $34.48 and a 200-day moving average of $34.11. The stock has a market capitalization of $7.11 billion, a P/E ratio of -57.02 and a beta of 1.18. HashiCorp has a 52 week low of $23.00 and a 52 week high of $34.85.

Insiders Place Their Bets

In other HashiCorp news, 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 transaction of $609,294.00. Following the transaction, the chief technology officer now directly owns 31,348 shares in the company, valued at approximately $1,073,042.04. The trade was a 36.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in HashiCorp by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 16,350,402 shares of the company’s stock worth $559,347,000 after acquiring an additional 611,447 shares in the last quarter. Norges Bank bought a new position in HashiCorp during the fourth quarter worth about $161,190,000. Westchester Capital Management LLC lifted its holdings in HashiCorp by 0.5% during the fourth quarter. Westchester Capital Management LLC now owns 3,217,643 shares of the company’s stock worth $110,076,000 after acquiring an additional 17,321 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of HashiCorp by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 2,585,092 shares of the company’s stock valued at $88,465,000 after purchasing an additional 63,090 shares in the last quarter. Finally, Alpine Associates Management Inc. lifted its holdings in shares of HashiCorp by 11.8% in the fourth quarter. Alpine Associates Management Inc. now owns 2,394,854 shares of the company’s stock valued at $81,928,000 after purchasing an additional 252,700 shares in the last quarter. 86.25% of the stock is currently owned by institutional investors.

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.