HashiCorp’s (HCP) Hold Rating Reaffirmed at Truist Financial

Truist Financial reaffirmed their hold rating on shares of HashiCorp (NASDAQ:HCP) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $35.00 price target on the stock, up from their prior price target of $27.00.

Several other research analysts have also weighed in on HCP. Stifel Nicolaus upped their price target on HashiCorp from $26.00 to $28.00 and gave the company a buy rating 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. Citigroup upped their price target on HashiCorp from $22.00 to $24.00 and gave the company a neutral rating in a research report on Monday, January 22nd. 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. Finally, KeyCorp began coverage on HashiCorp in a research report on Tuesday, March 19th. They set a sector weight rating on the stock. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, HashiCorp presently has a consensus rating of Hold and a consensus price target of $30.77.

HashiCorp Stock Down 0.7 %

Shares of HashiCorp stock opened at $32.59 on Thursday. The stock’s fifty day moving average is $26.08 and its 200-day moving average is $23.46. The firm has a market capitalization of $6.50 billion, a PE ratio of -33.26 and a beta of 1.42. HashiCorp has a 12-month low of $18.91 and a 12-month high of $36.39.

HashiCorp (NASDAQ:HCP) last announced its earnings results on Tuesday, March 5th. The company reported ($0.15) earnings per share (EPS) 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 analyst estimates of $149.47 million. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. Analysts expect that HashiCorp will post -0.8 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Navam Welihinda sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total transaction of $54,600.00. Following the sale, the chief financial officer now owns 62,844 shares in the company, valued at $1,372,512.96. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Ledger Susan St. sold 17,895 shares of HashiCorp stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total transaction of $490,144.05. Following the transaction, the insider now owns 121,702 shares in the company, valued at approximately $3,333,417.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Navam Welihinda sold 2,500 shares of HashiCorp stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $21.84, for a total transaction of $54,600.00. Following the transaction, the chief financial officer now owns 62,844 shares in the company, valued at approximately $1,372,512.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 267,427 shares of company stock worth $6,728,242. 26.13% of the stock is currently owned by company insiders.

Institutional Trading of HashiCorp

A number of large investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. lifted its position in shares of HashiCorp by 35.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after purchasing an additional 615 shares during the period. Industry Ventures L.L.C. purchased a new stake in shares of HashiCorp in the 4th quarter worth approximately $157,000. Victory Capital Management Inc. lifted its position in shares of HashiCorp by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 10,576 shares of the company’s stock worth $241,000 after purchasing an additional 2,768 shares during the period. Xponance Inc. lifted its position in shares of HashiCorp by 6.7% in the 3rd quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after purchasing an additional 673 shares during the period. Finally, Principal Financial Group Inc. lifted its position in HashiCorp by 10.0% during the third quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock valued at $246,000 after acquiring an additional 978 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors.

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.