HashiCorp (NASDAQ:HCP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of HashiCorp (NASDAQ:HCP) in a research note released on Thursday. The firm issued a hold rating on the stock.

HashiCorp Price Performance

HCP opened at $34.78 on Thursday. HashiCorp has a fifty-two week low of $32.69 and a fifty-two week high of $34.85. The firm has a market capitalization of $7.11 billion, a PE ratio of -57.02 and a beta of 1.18. The company’s 50-day moving average is $34.78 and its 200 day moving average is $34.31.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in HashiCorp during the fourth quarter worth about $161,190,000. Caxton Associates LP boosted its stake in shares of HashiCorp by 284.8% in the 4th quarter. Caxton Associates LP now owns 1,086,285 shares of the company’s stock worth $37,162,000 after buying an additional 803,980 shares during the last quarter. AQR Arbitrage LLC grew its holdings in shares of HashiCorp by 56.2% in the fourth quarter. AQR Arbitrage LLC now owns 1,933,854 shares of the company’s stock valued at $66,138,000 after acquiring an additional 695,729 shares in the last quarter. National Bank of Canada FI bought a new position in shares of HashiCorp in the fourth quarter valued at approximately $23,697,000. Finally, SG Americas Securities LLC increased its position in shares of HashiCorp by 1,512.2% during the fourth quarter. SG Americas Securities LLC now owns 720,930 shares of the company’s stock valued at $24,663,000 after acquiring an additional 676,212 shares during the last quarter. 86.25% of the stock is owned by hedge funds and other 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.