StockNews.com Initiates Coverage on HashiCorp (NASDAQ:HCP)

Equities research analysts at StockNews.com started coverage on shares of HashiCorp (NASDAQ:HCP) in a research note issued to investors on Sunday. The brokerage set a “hold” rating on the stock.

Other equities research analysts also recently issued research reports about the stock. JMP Securities reiterated a “market perform” rating on shares of HashiCorp in a research note on Monday, December 16th. Citigroup assumed coverage on shares of HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, HashiCorp has an average rating of “Hold” and an average target price of $32.08.

HashiCorp Trading Up 0.0 %

HCP opened at $34.19 on Friday. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of -56.05 and a beta of 1.21. HashiCorp has a 1-year low of $20.89 and a 1-year high of $34.33. The business has a 50 day moving average of $33.87 and a 200-day moving average of $33.77.

Insiders Place Their Bets

In related news, CTO Armon Dadgar sold 35,903 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.58, for a total value of $1,205,622.74. Following the completion of the transaction, the chief technology officer now directly owns 1,520,000 shares in the company, valued at approximately $51,041,600. The trade was a 2.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Mcjannet sold 47,526 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.22, for a total transaction of $1,626,339.72. Following the sale, the chief executive officer now directly owns 465,978 shares of the company’s stock, valued at $15,945,767.16. This represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 244,844 shares of company stock worth $8,303,342. Insiders own 22.49% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Longfellow Investment Management Co. LLC bought a new position in HashiCorp in the third quarter valued at approximately $38,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HashiCorp in the 3rd quarter valued at approximately $51,000. Quest Partners LLC grew its stake in shares of HashiCorp by 9,736.1% in the second quarter. Quest Partners LLC now owns 3,541 shares of the company’s stock valued at $119,000 after buying an additional 3,505 shares in the last quarter. KBC Group NV increased its holdings in HashiCorp by 25.8% during the third quarter. KBC Group NV now owns 3,563 shares of the company’s stock worth $121,000 after buying an additional 731 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV bought a new stake in HashiCorp during the third quarter worth $205,000. Institutional investors own 86.25% 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.