HashiCorp (NASDAQ:HCP) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of HashiCorp (NASDAQ:HCPFree Report) from a hold rating to a sell rating in a report issued on Monday morning.

A number of other analysts also recently issued reports on HCP. BTIG Research lifted their price objective on shares of HashiCorp from $25.00 to $27.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Needham & Company LLC boosted their price target on shares of HashiCorp from $27.00 to $30.00 and gave the stock a buy rating in a research note on Monday, March 4th. TD Cowen boosted their price target on shares of HashiCorp from $23.00 to $26.00 and gave the stock a market perform rating in a research note on Wednesday, March 6th. Oppenheimer reissued an outperform rating and issued a $34.00 price target on shares of HashiCorp in a research note on Wednesday, March 6th. Finally, Morgan Stanley raised shares of HashiCorp from an equal weight rating to an overweight rating and boosted their price target for the stock from $23.00 to $30.00 in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $28.77.

View Our Latest Research Report on HashiCorp

HashiCorp Price Performance

HCP opened at $26.93 on Monday. The company has a fifty day moving average price of $24.37 and a 200-day moving average price of $22.98. The firm has a market capitalization of $5.27 billion, a P/E ratio of -27.48 and a beta of 1.41. HashiCorp has a one year low of $18.91 and a one year high of $36.39.

Insiders Place Their Bets

In other news, CFO Navam Welihinda sold 2,500 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $21.95, for a total transaction of $54,875.00. Following the sale, the chief financial officer now owns 62,844 shares in the company, valued at $1,379,425.80. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Navam Welihinda sold 2,500 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $21.95, for a total transaction of $54,875.00. Following the sale, the chief financial officer now owns 62,844 shares in the company, valued at $1,379,425.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ledger Susan St. sold 17,895 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total transaction of $490,144.05. Following the sale, the insider now owns 121,702 shares in the company, valued at approximately $3,333,417.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,577 shares of company stock worth $6,334,848. 26.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its position in HashiCorp by 167.6% in the fourth quarter. Citigroup Inc. now owns 918 shares of the company’s stock worth $25,000 after acquiring an additional 575 shares during the period. Geneos Wealth Management Inc. bought a new position in HashiCorp in the first quarter worth approximately $33,000. American International Group Inc. bought a new position in HashiCorp in the second quarter worth approximately $38,000. Tower Research Capital LLC TRC raised its position in HashiCorp by 82.7% in the third quarter. Tower Research Capital LLC TRC now owns 1,692 shares of the company’s stock worth $39,000 after acquiring an additional 766 shares during the period. Finally, Advisors Asset Management Inc. raised its position in HashiCorp by 94.8% in the third quarter. Advisors Asset Management Inc. now owns 1,761 shares of the company’s stock worth $40,000 after acquiring an additional 857 shares during the period. Institutional investors own 87.83% of the company’s stock.

HashiCorp Company Profile

(Get Free Report)

HashiCorp, Inc provides multi-cloud infrastructure automation solutions worldwide. The company offers Terraform, an infrastructure provisioning product that applies an Infrastructure-as-Code approach, where processes and configuration required to support applications are codified and automated instead of being manual and ticket-based; and Vault, a secrets management and data protection product, which enables security teams to apply policies based on application and user identity to govern access to credentials and secure sensitive data.

Recommended Stories

Analyst Recommendations for HashiCorp (NASDAQ:HCP)

Receive News & Ratings for HashiCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HashiCorp and related companies with MarketBeat.com's FREE daily email newsletter.