HashiCorp (NASDAQ:HCP) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCPFree Report) in a research note released on Monday morning. The firm issued a hold rating on the stock.

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

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HashiCorp Price Performance

HCP stock opened at $33.88 on Monday. The company’s 50-day moving average is $33.79 and its 200-day moving average is $32.13. The stock has a market capitalization of $6.81 billion, a PE ratio of -35.29 and a beta of 1.25. HashiCorp has a 1 year low of $18.91 and a 1 year high of $34.06.

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

Insider Buying and Selling

In other news, CMO Marc Holmes sold 13,916 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $33.46, for a total transaction of $465,629.36. Following the completion of the transaction, the chief marketing officer now directly owns 4,368 shares of the company’s stock, valued at approximately $146,153.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO David Mcjannet sold 48,055 shares of HashiCorp stock in a transaction dated Friday, September 20th. The stock was 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 owns 419,531 shares of the company’s stock, valued at approximately $14,196,929.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Marc Holmes sold 13,916 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $33.46, for a total transaction of $465,629.36. Following the sale, the chief marketing officer now directly owns 4,368 shares in the company, valued at $146,153.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 404,041 shares of company stock valued at $13,644,123. 22.49% of the stock is owned by insiders.

Institutional Trading of HashiCorp

Several hedge funds and other institutional investors have recently modified their holdings of HCP. Xponance Inc. boosted its holdings in HashiCorp by 3.1% in the 2nd quarter. Xponance Inc. now owns 10,271 shares of the company’s stock worth $346,000 after buying an additional 305 shares during the period. Comerica Bank lifted its position in shares of HashiCorp by 2.1% during the first quarter. Comerica Bank now owns 18,432 shares of the company’s stock worth $497,000 after acquiring an additional 374 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of HashiCorp by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock worth $1,020,000 after acquiring an additional 420 shares during the period. Advisors Asset Management Inc. grew its position in shares of HashiCorp by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 3,194 shares of the company’s stock valued at $86,000 after purchasing an additional 961 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of HashiCorp by 3.5% during the 2nd quarter. Arizona State Retirement System now owns 31,921 shares of the company’s stock valued at $1,075,000 after purchasing an additional 1,065 shares during the period. Institutional investors 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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