HashiCorp (NASDAQ:HCP) Stock Rating Reaffirmed by Needham & Company LLC

HashiCorp (NASDAQ:HCP)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports.

A number of other equities research analysts have also recently commented on HCP. JMP Securities reaffirmed a “market outperform” rating and issued a $38.00 price target on shares of HashiCorp in a report on Thursday, March 7th. KeyCorp began coverage on shares of HashiCorp in a report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. BTIG Research cut shares of HashiCorp from a “buy” rating to a “neutral” rating in a report on Wednesday. Stifel Nicolaus lifted their price target on shares of HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, StockNews.com raised shares of HashiCorp from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, HashiCorp has a consensus rating of “Hold” and an average target price of $30.77.

HashiCorp Trading Down 0.7 %

HCP stock opened at $32.59 on Thursday. The stock has a 50-day moving average price of $26.08 and a 200-day moving average price of $23.44. The firm has a market cap of $6.50 billion, a PE ratio of -33.25 and a beta of 1.42. HashiCorp has a 1-year low of $18.91 and a 1-year high of $36.39.

HashiCorp (NASDAQ:HCP) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. The business had revenue of $155.78 million during the quarter, compared to the consensus estimate of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. On average, analysts forecast that HashiCorp will post -0.8 earnings per share for the current year.

Insider Buying and Selling at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $23.02, for a total transaction of $826,510.08. Following the completion of the transaction, the chief technology officer now directly owns 1,804,780 shares in the company, valued at approximately $41,546,035.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Navam Welihinda sold 3,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $27.84, for a total transaction of $83,520.00. Following the completion of the transaction, the chief financial officer now directly owns 93,925 shares in the company, valued at approximately $2,614,872. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Armon Dadgar sold 35,904 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $23.02, for a total transaction of $826,510.08. Following the transaction, the chief technology officer now owns 1,804,780 shares of the company’s stock, valued at $41,546,035.60. The disclosure for this sale can be found here. Insiders have sold 267,427 shares of company stock valued at $6,728,242 in the last 90 days. 26.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its position in HashiCorp by 35.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after acquiring an additional 615 shares in the last quarter. Industry Ventures L.L.C. purchased a new position in HashiCorp in the fourth quarter worth $157,000. Victory Capital Management Inc. grew its position in HashiCorp by 35.5% in the third quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after acquiring an additional 2,768 shares in the last quarter. Xponance Inc. grew its position in HashiCorp by 6.7% in the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after acquiring an additional 673 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in HashiCorp by 10.0% in the third quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock worth $246,000 after acquiring an additional 978 shares in the last quarter. 87.83% of the stock is currently owned by hedge funds and other 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.