HashiCorp (NASDAQ:HCP) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCP) from a sell rating to a hold rating in a research note issued to investors on Monday.

HCP has been the topic of several other reports. BTIG Research upped their price target on HashiCorp from $25.00 to $27.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Oppenheimer reissued an outperform rating and set a $34.00 price target on shares of HashiCorp in a research report on Wednesday, March 6th. JMP Securities reissued a market outperform rating and set a $38.00 price target on shares of HashiCorp in a research report on Thursday, March 7th. Bank of America upped their price target on HashiCorp from $24.00 to $28.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. Finally, Scotiabank raised HashiCorp from a sector perform rating to a sector outperform rating and set a $31.00 price target on the stock in a research report on Tuesday, March 12th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $29.08.

HashiCorp Stock Up 7.8 %

Shares of HCP opened at $31.41 on Monday. The business’s 50 day moving average is $25.73 and its two-hundred day moving average is $23.30. HashiCorp has a 52-week low of $18.91 and a 52-week high of $36.39. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of -32.05 and a beta of 1.42.

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

Insider Transactions at HashiCorp

In other news, CFO Navam Welihinda sold 3,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $27.84, for a total value of $83,520.00. Following the completion of the transaction, the chief financial officer now owns 93,925 shares of the company’s stock, valued at $2,614,872. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other 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 value of $826,510.08. Following the completion of the sale, the chief technology officer now owns 1,804,780 shares in the company, valued at $41,546,035.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Navam Welihinda sold 3,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $27.84, for a total value of $83,520.00. Following the completion of the sale, the chief financial officer now owns 93,925 shares of the company’s stock, valued at approximately $2,614,872. The disclosure for this sale can be found here. Over the last quarter, insiders sold 263,077 shares of company stock valued at $6,597,742. 26.13% of the stock is currently owned by corporate insiders.

Institutional Trading of HashiCorp

Several institutional investors have recently modified their holdings of the company. Treasurer of the State of North Carolina lifted its holdings in shares of HashiCorp by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after buying an additional 420 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of HashiCorp by 35.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock valued at $54,000 after buying an additional 615 shares during the period. Xponance Inc. lifted its holdings in shares of HashiCorp by 6.7% in the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock valued at $244,000 after buying an additional 673 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of HashiCorp by 8.1% in the third quarter. Oppenheimer & Co. Inc. now owns 12,302 shares of the company’s stock valued at $281,000 after buying an additional 918 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of HashiCorp by 10.0% in the third quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock valued at $246,000 after buying an additional 978 shares during the period. Institutional investors and hedge funds own 87.83% of the company’s stock.

HashiCorp Company Profile

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.