HashiCorp, Inc. (NASDAQ:HCP) Given Average Recommendation of “Hold” by Brokerages

HashiCorp, Inc. (NASDAQ:HCP) has earned an average recommendation of “Hold” from the fourteen ratings firms that are covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $30.77.

HCP has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on shares of HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday. TD Cowen raised their target price on HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. BTIG Research cut HashiCorp from a “buy” rating to a “neutral” rating in a research note on Wednesday. Scotiabank restated a “sector perform” rating and set a $35.00 price objective (up previously from $31.00) on shares of HashiCorp in a research note on Thursday. Finally, KeyCorp began coverage on HashiCorp in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock.

HashiCorp Price Performance

Shares of NASDAQ HCP opened at $32.59 on Friday. The company has a market capitalization of $6.50 billion, a price-to-earnings 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. The business has a 50-day moving average of $26.08 and a 200-day moving average of $23.45.

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

Insider Activity at HashiCorp

In other news, Director Sigal Zarmi sold 4,350 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total value of $130,500.00. Following the transaction, the director now directly owns 37,991 shares in the company, valued at approximately $1,139,730. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sigal Zarmi sold 4,350 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total value of $130,500.00. Following the completion of the sale, the director now directly owns 37,991 shares in the company, valued at $1,139,730. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 267,427 shares of company stock valued at $6,728,242. Corporate insiders own 26.13% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in HashiCorp by 47.6% during the 3rd quarter. SG Americas Securities LLC now owns 39,928 shares of the company’s stock valued at $912,000 after purchasing an additional 12,884 shares during the period. Peregrine Capital Management LLC boosted its position in shares of HashiCorp by 3.5% during the third quarter. Peregrine Capital Management LLC now owns 303,525 shares of the company’s stock worth $6,929,000 after buying an additional 10,322 shares during the period. Xponance Inc. boosted its position in shares of HashiCorp by 6.7% during the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after buying an additional 673 shares during the period. Bank of New York Mellon Corp grew its holdings in HashiCorp by 10.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 337,516 shares of the company’s stock worth $7,705,000 after buying an additional 32,006 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in HashiCorp by 19.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,596 shares of the company’s stock valued at $1,589,000 after acquiring an additional 11,278 shares during the period. Institutional investors and hedge funds own 87.83% 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.