HashiCorp, Inc. (NASDAQ:HCP) Given Average Recommendation of “Hold” by Analysts

Shares of HashiCorp, Inc. (NASDAQ:HCP) have received a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $32.08.

Several equities research analysts have weighed in on HCP shares. JMP Securities reaffirmed a “market perform” rating on shares of HashiCorp in a research note on Monday, September 16th. StockNews.com started coverage on HashiCorp in a report on Wednesday. They issued a “hold” rating on the stock. Citigroup began coverage on HashiCorp in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $35.00 target price on the stock. Finally, Piper Sandler reiterated a “neutral” rating and issued a $35.00 target price on shares of HashiCorp in a report on Friday, August 30th.

HashiCorp Stock Performance

HashiCorp stock opened at $33.78 on Monday. The stock’s 50 day moving average price is $33.82 and its two-hundred day moving average price is $33.74. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of -55.38 and a beta of 1.21. HashiCorp has a 52-week low of $20.89 and a 52-week high of $34.21.

Insider Buying and Selling at HashiCorp

In other news, CEO David Mcjannet sold 48,055 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $33.84, for a total value of $1,626,181.20. Following the completion of the transaction, the chief executive officer now directly owns 419,531 shares of the company’s stock, valued at $14,196,929.04. This trade represents a 10.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Armon Dadgar sold 35,903 shares of HashiCorp stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.58, for a total value of $1,205,622.74. Following the completion of the transaction, the chief technology officer now owns 1,520,000 shares of the company’s stock, valued at approximately $51,041,600. This trade represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 352,291 shares of company stock valued at $11,912,497 over the last three months. 22.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HashiCorp

A number of institutional investors and hedge funds have recently modified their holdings of HCP. New York Life Investment Management LLC purchased a new position in HashiCorp during the second quarter worth about $11,407,000. K2 Principal Fund L.P. bought a new stake in shares of HashiCorp during the 2nd quarter valued at about $2,966,000. Alpine Associates Management Inc. boosted its position in shares of HashiCorp by 48.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 2,142,154 shares of the company’s stock valued at $72,533,000 after acquiring an additional 701,350 shares during the last quarter. Versor Investments LP grew its holdings in shares of HashiCorp by 518.9% during the third quarter. Versor Investments LP now owns 157,725 shares of the company’s stock worth $5,341,000 after purchasing an additional 132,239 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in shares of HashiCorp in the second quarter worth approximately $857,000. 86.25% of the stock is owned by hedge funds and other institutional investors.

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.