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

StockNews.com upgraded shares of HashiCorp (NASDAQ:HCP) from a sell rating to a hold rating in a research report released on Friday morning.

Several other equities analysts have also recently issued reports on the company. Scotiabank reaffirmed a sector perform rating and issued a $35.00 price objective (up from $31.00) on shares of HashiCorp in a research report on Thursday, April 25th. TD Cowen boosted their target price on HashiCorp from $23.00 to $26.00 and gave the stock a market perform rating in a research report on Wednesday, March 6th. JMP Securities reaffirmed a market outperform rating and set a $38.00 price target on shares of HashiCorp in a report on Thursday, March 7th. Bank of America increased their price objective on shares of HashiCorp from $28.00 to $32.00 and gave the company a neutral rating in a research report on Wednesday, April 24th. Finally, Truist Financial reissued a hold rating and set a $35.00 price target (up from $27.00) on shares of HashiCorp in a report on Thursday, April 25th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $30.77.

HashiCorp Stock Down 0.2 %

HashiCorp stock opened at $32.79 on Friday. The stock’s 50 day moving average is $27.24 and its 200 day moving average is $23.94. The company has a market capitalization of $6.54 billion, a P/E ratio of -33.46 and a beta of 1.25. HashiCorp has a twelve month low of $18.91 and a twelve month high of $36.39.

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, topping the consensus estimate of ($0.21) by $0.06. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. The firm had revenue of $155.78 million during the quarter, compared to analyst estimates of $149.47 million. As a group, equities analysts expect that HashiCorp will post -0.8 EPS for the current year.

Insider Transactions at HashiCorp

In other HashiCorp news, CFO Navam Welihinda sold 2,500 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $21.84, for a total value of $54,600.00. Following the completion of the sale, the chief financial officer now owns 62,844 shares in the company, valued at approximately $1,372,512.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Navam Welihinda sold 2,500 shares of HashiCorp 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 document filed with the SEC, which is available at this link. Also, Director Sigal Zarmi sold 4,350 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total transaction of $130,500.00. Following the transaction, the director now directly owns 37,991 shares of the company’s stock, valued at $1,139,730. The disclosure for this sale can be found here. Insiders sold a total of 267,427 shares of company stock valued at $7,076,511 over the last three months. Corporate insiders own 26.13% of the company’s stock.

Hedge Funds Weigh In On HashiCorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its position in shares of HashiCorp by 35.4% during the 3rd 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 in the last quarter. Industry Ventures L.L.C. bought a new stake in shares of HashiCorp in the 4th quarter valued at approximately $157,000. Victory Capital Management Inc. boosted its holdings 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. raised its holdings in HashiCorp by 6.7% during the 3rd 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. Finally, Principal Financial Group Inc. lifted its position in HashiCorp by 10.0% in the third quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock worth $246,000 after buying an additional 978 shares during the last quarter. 87.83% of the stock is 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.