HashiCorp, Inc. (NASDAQ:HCP) Given Consensus Rating of “Hold” by Brokerages

Shares of HashiCorp, Inc. (NASDAQ:HCP) have earned an average rating of “Hold” from the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $30.77.

HCP has been the subject of a number of research reports. BTIG Research cut HashiCorp from a “buy” rating to a “neutral” rating in a research report on Wednesday. Truist Financial reaffirmed a “hold” rating and set a $35.00 target price (up previously from $27.00) on shares of HashiCorp in a report on Thursday. Piper Sandler upped their target price on HashiCorp from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of HashiCorp in a research report on Thursday. Finally, TD Cowen lifted their price objective on shares of HashiCorp from $23.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday, March 6th.

Insider Buying and Selling at HashiCorp

In related news, insider Ledger Susan St. sold 17,895 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 121,702 shares of the company’s stock, valued at approximately $3,333,417.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ledger Susan St. sold 17,895 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 121,702 shares of the company’s stock, valued at approximately $3,333,417.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sigal Zarmi sold 4,350 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total transaction of $130,500.00. Following the transaction, the director now owns 37,991 shares of the company’s stock, valued at $1,139,730. The disclosure for this sale can be found here. Over the last quarter, insiders sold 267,427 shares of company stock valued at $6,728,242. Corporate insiders own 26.13% of the company’s stock.

Institutional Trading of HashiCorp

Several large investors have recently made changes to their positions in the company. Treasurer of the State of North Carolina grew its stake in HashiCorp by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 43,130 shares of the company’s stock valued at $1,020,000 after acquiring an additional 420 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in HashiCorp by 35.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,351 shares of the company’s stock worth $54,000 after buying an additional 615 shares in the last quarter. Xponance Inc. lifted its position in HashiCorp by 6.7% during the third quarter. Xponance Inc. now owns 10,701 shares of the company’s stock worth $244,000 after buying an additional 673 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in HashiCorp by 8.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,302 shares of the company’s stock worth $281,000 after buying an additional 918 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in HashiCorp by 10.0% in the 3rd 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 in the last quarter. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

HashiCorp Stock Down 0.7 %

Shares of HashiCorp stock opened at $32.59 on Friday. The company has a 50 day moving average price of $26.08 and a 200 day moving average price of $23.45. The firm has a market capitalization of $6.50 billion, a P/E ratio of -33.25 and a beta of 1.42. HashiCorp has a 52 week low of $18.91 and a 52 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. HashiCorp had a negative net margin of 32.70% and a negative return on equity of 15.58%. The business had revenue of $155.78 million for the quarter, compared to analyst estimates of $149.47 million. As a group, research analysts anticipate that HashiCorp will post -0.8 earnings per share for the current fiscal year.

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.