HashiCorp (NASDAQ:HCP) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research report released on Tuesday morning. The brokerage issued a hold rating on the stock.

Several other equities research analysts also recently commented on HCP. Needham & Company LLC reaffirmed a hold rating on shares of HashiCorp in a report on Thursday, April 25th. KeyCorp initiated coverage on shares of HashiCorp in a report on Tuesday, March 19th. They set a sector weight rating on the stock. Scotiabank reaffirmed a sector perform rating and set a $35.00 price objective (up from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. Truist Financial reiterated a hold rating and set a $35.00 price target (up from $27.00) on shares of HashiCorp in a research report on Thursday, April 25th. Finally, Oppenheimer reiterated an outperform rating and set a $34.00 price target on shares of HashiCorp in a research report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, HashiCorp currently has a consensus rating of Hold and an average target price of $30.77.

HashiCorp Stock Performance

Shares of NASDAQ:HCP opened at $33.27 on Tuesday. The company’s 50-day moving average is $29.05 and its 200 day moving average is $25.06. The company has a market capitalization of $6.64 billion, a P/E ratio of -33.95 and a beta of 1.25. HashiCorp has a fifty-two week low of $18.91 and a fifty-two week high of $36.39.

HashiCorp (NASDAQ:HCP) last issued 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 company had revenue of $155.78 million for the quarter, compared to the consensus estimate of $149.47 million. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. As a group, research analysts predict that HashiCorp will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In other HashiCorp news, insider Ledger Susan St. sold 17,895 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $27.39, for a total value of $490,144.05. Following the completion of the sale, the insider now owns 121,702 shares of the company’s stock, valued at $3,333,417.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Navam Welihinda sold 2,500 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $25.00, for a total transaction of $62,500.00. Following the completion of the sale, the chief financial officer now owns 62,844 shares of the company’s stock, valued at $1,571,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 value of $490,144.05. Following the sale, the insider now directly owns 121,702 shares of the company’s stock, valued at approximately $3,333,417.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,011 shares of company stock worth $7,129,464. Insiders own 22.49% of the company’s stock.

Institutional Trading of HashiCorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in HashiCorp in the third quarter worth $309,000. Qsemble Capital Management LP bought a new position in HashiCorp in the third quarter worth $1,119,000. TimesSquare Capital Management LLC raised its holdings in HashiCorp by 10.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 2,697,746 shares of the company’s stock worth $63,775,000 after purchasing an additional 254,720 shares in the last quarter. Artemis Investment Management LLP bought a new position in HashiCorp in the fourth quarter worth $7,124,000. Finally, Vanguard Group Inc. increased its holdings in shares of HashiCorp by 4.9% during the third quarter. Vanguard Group Inc. now owns 9,723,000 shares of the company’s stock valued at $221,976,000 after acquiring an additional 455,179 shares in the last quarter. Hedge funds and other institutional investors 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.