HashiCorp (NASDAQ:HCP) Research Coverage Started at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of HashiCorp (NASDAQ:HCPGet Free Report) in a report issued on Saturday. The firm set a “hold” rating on the stock.

HCP has been the topic of several other reports. William Blair downgraded shares of HashiCorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 24th. Bank of America upped their price target on shares of HashiCorp from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Scotiabank reiterated a “sector perform” rating and set a $35.00 price target (up from $31.00) on shares of HashiCorp in a report on Thursday, April 25th. KeyCorp started coverage on shares of HashiCorp in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Finally, Truist Financial restated a “hold” rating and issued a $35.00 target price (up from $27.00) on shares of HashiCorp in a research note on Thursday, April 25th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $31.17.

View Our Latest Stock Analysis on HCP

HashiCorp Trading Up 0.1 %

Shares of NASDAQ:HCP opened at $33.78 on Friday. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of -35.19 and a beta of 1.25. HashiCorp has a 12 month low of $18.91 and a 12 month high of $33.85. The firm’s 50-day moving average is $30.44 and its 200 day moving average is $26.14.

Insider Transactions at HashiCorp

In other news, CTO Armon Dadgar sold 10,241 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total value of $280,500.99. Following the completion of the sale, the chief technology officer now owns 144,820 shares of the company’s stock, valued at approximately $3,966,619.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Armon Dadgar sold 10,241 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $27.39, for a total value of $280,500.99. Following the completion of the sale, the chief technology officer now owns 144,820 shares of the company’s stock, valued at approximately $3,966,619.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Navam Welihinda sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $27.84, for a total transaction of $83,520.00. Following the completion of the sale, the chief financial officer now directly owns 93,925 shares of the company’s stock, valued at approximately $2,614,872. The disclosure for this sale can be found here. In the last quarter, insiders sold 284,415 shares of company stock valued at $8,275,134. Company insiders own 22.49% of the company’s stock.

Institutional Investors Weigh In On HashiCorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in HashiCorp by 14.0% during the first quarter. Vanguard Group Inc. now owns 12,224,624 shares of the company’s stock valued at $329,454,000 after acquiring an additional 1,501,953 shares during the last quarter. Whale Rock Capital Management LLC raised its holdings in shares of HashiCorp by 293.2% in the first quarter. Whale Rock Capital Management LLC now owns 4,565,728 shares of the company’s stock worth $123,046,000 after buying an additional 3,404,557 shares during the last quarter. Jericho Capital Asset Management L.P. raised its holdings in shares of HashiCorp by 53.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 3,338,951 shares of the company’s stock worth $89,985,000 after buying an additional 1,161,600 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. raised its holdings in shares of HashiCorp by 50.0% in the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 2,849,100 shares of the company’s stock worth $67,353,000 after buying an additional 949,100 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of HashiCorp by 35.7% in the fourth quarter. First Trust Advisors LP now owns 2,722,097 shares of the company’s stock worth $64,350,000 after buying an additional 716,574 shares during the last quarter. Hedge funds and other institutional investors own 87.83% of the company’s stock.

HashiCorp Company Profile

(Get Free Report)

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.

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Analyst Recommendations for HashiCorp (NASDAQ:HCP)

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