HashiCorp (NASDAQ:HCP) Upgraded by StockNews.com to Hold

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

HCP has been the subject of a number of other research reports. Citigroup boosted their price objective on HashiCorp from $22.00 to $24.00 and gave the stock a neutral rating in a report on Monday, January 22nd. Scotiabank restated a sector perform rating and set a $35.00 price objective (up previously from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. JMP Securities restated a market outperform rating and set a $38.00 price objective on shares of HashiCorp in a report on Thursday, March 7th. KeyCorp began coverage on HashiCorp in a research note on Tuesday, March 19th. They issued a sector weight rating for the company. Finally, Morgan Stanley upgraded HashiCorp from an equal weight rating to an overweight rating and boosted their price target for the company from $23.00 to $30.00 in a research note on Monday, February 26th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $30.77.

HashiCorp Stock Up 0.1 %

Shares of NASDAQ HCP opened at $32.85 on Friday. The business’s 50 day moving average price is $27.09 and its two-hundred day moving average price is $23.85. The company has a market cap of $6.55 billion, a PE ratio of -33.52 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 issued its quarterly earnings data 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. HashiCorp had a negative return on equity of 15.58% and a negative net margin of 32.70%. The company had revenue of $155.78 million during the quarter, compared to analysts’ expectations of $149.47 million. As a group, research analysts anticipate that HashiCorp will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling at HashiCorp

In other news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $21.82, for a total transaction of $783,425.28. Following the completion of the sale, the chief technology officer now owns 1,768,876 shares in the company, valued at approximately $38,596,874.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO Armon Dadgar sold 35,904 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $21.82, for a total transaction of $783,425.28. Following the completion of the sale, the chief technology officer now owns 1,768,876 shares in the company, valued at approximately $38,596,874.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Navam Welihinda sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 of the company’s stock, valued at approximately $1,372,512.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 231,523 shares of company stock worth $5,901,732. Insiders own 26.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. lifted its holdings 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 worth $54,000 after acquiring an additional 615 shares during the last quarter. Industry Ventures L.L.C. bought a new stake in shares of HashiCorp during the 4th quarter worth $157,000. Victory Capital Management Inc. raised its position in 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 position in 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. raised its position in HashiCorp by 10.0% in the 3rd quarter. Principal Financial Group Inc. now owns 10,778 shares of the company’s stock worth $246,000 after purchasing an additional 978 shares during the period. 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.