HashiCorp (NASDAQ:HCP) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of HashiCorp (NASDAQ:HCP) in a research report sent to investors on Monday. The brokerage issued a hold rating on the stock.

HashiCorp Stock Performance

Shares of HashiCorp stock opened at $34.78 on Monday. The business’s 50 day simple moving average is $34.78 and its 200 day simple moving average is $34.39. The firm has a market cap of $7.11 billion, a PE ratio of -57.02 and a beta of 1.18. HashiCorp has a 52-week low of $32.98 and a 52-week high of $34.85.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in shares of HashiCorp by 331.2% during the 4th quarter. Blue Trust Inc. now owns 2,057 shares of the company’s stock worth $70,000 after acquiring an additional 1,580 shares during the period. Sterling Capital Management LLC boosted its stake in shares of HashiCorp by 16.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,627 shares of the company’s stock worth $124,000 after acquiring an additional 524 shares during the period. KBC Group NV boosted its stake in shares of HashiCorp by 45.9% during the 4th quarter. KBC Group NV now owns 5,200 shares of the company’s stock worth $178,000 after acquiring an additional 1,637 shares during the period. Gotham Asset Management LLC bought a new position in shares of HashiCorp during the 4th quarter worth approximately $203,000. Finally, Callan Family Office LLC bought a new position in shares of HashiCorp during the 4th quarter worth approximately $269,000. Institutional investors and hedge funds own 86.25% 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.