HashiCorp (NASDAQ:HCP) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a report released on Thursday. The brokerage set a “hold” rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Scotiabank restated a “sector perform” rating and set a $35.00 target price (up previously from $31.00) on shares of HashiCorp in a research note on Thursday, April 25th. Morgan Stanley raised HashiCorp from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $23.00 to $30.00 in a report on Monday, February 26th. Stifel Nicolaus upped their price objective on HashiCorp from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. TD Cowen lifted 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. Finally, Citigroup upped their price target on HashiCorp from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 22nd. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.77.

HashiCorp Stock Up 0.0 %

Shares of NASDAQ HCP opened at $32.81 on Thursday. The firm has a market cap of $6.55 billion, a P/E ratio of -33.48 and a beta of 1.25. HashiCorp has a twelve month low of $18.91 and a twelve month high of $36.39. The company has a 50 day moving average of $27.50 and a 200 day moving average of $24.09.

HashiCorp (NASDAQ:HCP) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. The company 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%. As a group, equities analysts expect that HashiCorp will post -0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at HashiCorp

In related news, CTO Armon Dadgar sold 35,904 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $21.82, for a total transaction of $783,425.28. Following the transaction, the chief technology officer now directly owns 1,768,876 shares of the company’s stock, valued at $38,596,874.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other HashiCorp news, insider Ledger Susan St. sold 17,895 shares of HashiCorp stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $27.39, for a total transaction of $490,144.05. Following the completion of the transaction, the insider now directly owns 121,702 shares of the company’s stock, valued at $3,333,417.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Armon Dadgar sold 35,904 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $21.82, for a total value of $783,425.28. Following the sale, the chief technology officer now owns 1,768,876 shares in the company, valued at $38,596,874.32. The disclosure for this sale can be found here. In the last three months, insiders sold 267,427 shares of company stock valued at $7,076,511. 26.13% of the stock is owned by insiders.

Institutional Trading of HashiCorp

Large investors have recently bought and sold shares of the business. Xponance Inc. grew its holdings in HashiCorp by 6.7% in the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after buying an additional 673 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of HashiCorp by 10.5% in the third quarter. Bank of New York Mellon Corp now owns 337,516 shares of the company’s stock valued at $7,705,000 after acquiring an additional 32,006 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in HashiCorp by 19.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,596 shares of the company’s stock worth $1,589,000 after acquiring an additional 11,278 shares during the period. Perigon Wealth Management LLC raised its stake in HashiCorp by 81.7% in the 3rd quarter. Perigon Wealth Management LLC now owns 73,454 shares of the company’s stock worth $1,677,000 after purchasing an additional 33,037 shares in the last quarter. Finally, Jacob Asset Management of New York LLC boosted its holdings in HashiCorp by 5.2% in the 3rd quarter. Jacob Asset Management of New York LLC now owns 75,335 shares of the company’s stock valued at $1,720,000 after purchasing an additional 3,705 shares during the period. 87.83% of the stock is 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.